XYZ Machine Tools has reported that the first quarter of its 2019/2020 financial year has continued the strong positive growth in turnover that saw it post record figures for its year ending April 2019.

The first quarter has seen turnover rise by over six per cent with sentiment in the market remaining strong across the company’s product range. “This continued growth is extremely encouraging for us as a business as we have seen reports that others are finding the current situation, with Brexit uncertainty, challenging,” says Nigel Atherton, Managing Director, XYZ Machine Tools. “Our introduction of machines such as the LR range of machining centres and five-axis machines have opened up new opportunities for us with customers who may not normally have been typical XYZ customers. Our ongoing challenge is to maintain this momentum, which will be helped by new products such as our ROBO-TEND machine tool automation system, that is already generating significant interest.”

This sales growth has also led to another accolade for the Burlescombe, Devon-based company with it gaining 17 places in the Western Morning News’ Annual Business Guide Top 150 businesses in Devon and Cornwall, moving up from 135th to 118th. This is no mean feat given that these 150 companies have a combined turnover of £14 billion and the top ten alone account for over £6 billion of that. “It is great news that we are outgrowing other businesses in the region and the target has to be to break into the top 100, which could be achieved if sales this year continue the same as they have started.”

Record turnover figures at XYZ Machine Tools continue into 2019/20 Pictured: Nigel Atherton Managing Director, XYZ Machine Tools.