This growth is being driven both by UK customers and an increase in business from across Europe, with sales to the continent increasing by 12% over the same period.
The figures are reported at an exciting time for the Burlescombe, Devon-based business, with new product launches, such as the UMC-5X 5-axis machine and the LR series of vertical machining centres adding the already diverse product range from XYZ Machine Tools.
“These new machines add to our overall proposition to customers and, although we only introduced them in April, we have already sold 18 of the Linear Rail LR machines as they offer exceptional value,” Nigel Atherton, managing director, said. “Interest in the 5-axis machine, which is a new departure for XYZ, is extremely positive and sales of these machines will be reflected in the next quarter’s figures as we are working on some exciting prospects with our applications team.”
In comparing year-on-year figures XYZ says Brexit has to be taken into consideration as the devaluation of the Pound since the referendum has impacted on the cost of importing machine tools.
The counter to that is the positive effect of the exchange rate on those exporting machined components, with the latter seemingly offsetting the former for XYZ Machine Tools.
“There was inevitably some uncertainty following the referendum and our costs increased as a result, but the level of business we are seeing indicates a much higher level of optimism in the market as a whole and, we along with our customers, are certainly in more positive spirits than we were back then,” Mr Atherton said.
