Positive start to new financial year for XYZ Machine Tools
Hot on the heels of reporting another record-breaking year for 2018/19 XYZ Machine Tools reports that sales activity remains brisk as it aims to continue to repeat its success in 2019/20. Starting the year with an open house event at its Slough showroom in May, which saw sales in excess of £500,000 in one day, that helped boost turnover for the month to over £3,000,000.
“The positive attitude from customers that saw us post an 11 per cent increase in sales in the last financial year appears to be continuing and booked orders remain strong, with May exceeding expectations,” says Nigel Atherton, Managing Director, XYZ Machine Tools. “This gives us confidence that the trend will continue here in the UK despite any continuing uncertainty over Brexit.” Sales to UK manufacturing customers were also bolstered by continuing growth in business from mainland Europe, which showed an increase of 33 per cent in 2018/19 along with sales to the education sector in the UK, which increased by 40 per cent.
This positive start to 2019/20 bodes well for the Devon-based company which has ambitious plans for the coming year with new machine and automation launches along with expansion plans to its existing network of UK showrooms and the creation of a new service centre and used machine facility along with further expansion into mainland Europe. “We are extremely encouraged and grateful for the continuing support of our customers, both here in the UK and across Europe and the indications are that the positive manufacturing sentiment will continue.”