Prompt Payment Action Plan

Glide Student & Residential Limited

Summary published: 30 September 2026

1. Our performance

In the six-month period ending 31 August 2026, we paid 91.2% of supply chain invoices within 60 days of receipt, with an average payment period of 29.1 days. This compares with 84.6% within 60 days in the preceding period.

We are working towards paying 95% or more of supply chain invoices within 60 days of receipt.

2. Why we have not yet reached 95%

Extended contractual terms with a small number of suppliers. Five material suppliers hold agreed payment terms of 60 days or longer and account for a disproportionate share of our invoice volume, so invoices paid on time against those terms still fall outside the 60-day measure.

Delays in receipting goods on our systems. On infrastructure projects there is a lag between goods being receipted against purchase orders and those receipts reaching our finance processing cycle. As performance is measured from the date an invoice is received, this moves a proportion of invoices beyond 60 days.

3. What we are doing

On supplier terms, we will seek to align the terms held with these five suppliers to 60 days or fewer at their next contract renewal or review point. We are introducing a control requiring named approval to onboard any new supplier exceeding 60-day terms. We are also improving payment performance across the remainder of our supply chain so that the 95% standard is met.

On receipting and processing, we are requiring goods to be receipted on our ERP system on the day of receipt, supported by a measured internal SLA. We are improving project management service levels on infrastructure projects so that equipment ordering aligns more closely to project delivery and reducing stock days. Our new ERP system, completing in Q4 2026, will allow us to identify and resolve receipting issues more quickly.

4. How we track progress

Progress against each action is reported quarterly to the Executive Committee, which is the company’s equivalent of an audit committee, as part of our Executive financial review. Reporting covers invoices paid within 60 days, average payment days, the percentage paid within agreed terms, and progress against each action.

5. Approval

Approved on behalf of Glide Student & Residential Limited.

Paula Benoit
CFO
30 September 2026