XYZ Machine Tools enjoys positive start to financial year

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Starting the financial year with a May open house event at its Slough showroom saw XYZ Machine Tools exceed sales of £500,000 in one day, which in turn helped boost company turnover for the month to over £3 million.

“The positive attitude from customers that saw us post an 11% increase in sales in the last financial year appears to be continuing,” says managing director Nigel Atherton. “Booked orders remain strong, with May exceeding expectations. 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% in 2018/19, along with a rise in sales to the UK education sector of 40%.

This positive start to 2019/20 bodes well for the 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. XYZ will also create a new service centre and used machine facility, and has plans to further expand in mainland Europe.

“We are extremely encouraged and grateful for the continuing support of our customers, both in the UK and across Europe, and the indications are that the positive manufacturing sentiment will continue,” concludes Atherton.