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Proportion of overdue receivables jumps over 5%

The average proportion of overdue receivables Hungarian companies have written off has risen over 5% from just half a percent a year earlier and is seen reaching 7% by the spring of 2010, internet portal origo.hu said on Wednesday, citing data compiled by factor Direktinfo.

Direktinfo's latest survey shows that 62% of Hungarian companies with payment obligation more than 90 days overdue from at least two suppliers go bust in a year. As the average age of overdue receivables is 110 days, the number of liquidations is likely to rise even further.

The Direktinfo survey was based on a review of receivables management at 1,000 companies over one year. (MTI-ECONEWS)