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XYZ Machine Tools reports positive year-end results

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XYZ Machine Tools’ headquarters in Devon

The year started on a highly positive note for XYZ Machine Tools, which posted record sales for February and March.

And now the Devon-based machine tool supplier has reported April continued that trend with year-on-year UK sales growth of over 18%.

“Back in April 2020 we were in uncharted territory. Our order intake for that month was just six machines, and we simply did not know what the future held for us as a business and the country,” commented Nigel Atherton, managing director of XYZ. “Government schemes such as Furlough and the recently introduced Super Deduction Scheme were very welcome, saving jobs here at XYZ and across our customer base. We also implemented changes to our forward orders, while maintaining deliveries to help support our suppliers and ensure survival all round.”

12 months later, the figures could not be more different with order intake for April totalling 106 machines, made up of a mix of ProtoTRAK-controlled mills and lathes, vertical machining and turning centres and some manual machines.

Projections indicate that this improvement in sales will continue, aided by the successful vaccine roll-out and the daily positive news on how the UK is moving out of lockdown as COVID-19 infections continue to fall dramatically.

Supporting this growth, XYZ has made several new appointments and is actively recruiting to add to its existing area sales manager, service and applications engineering teams.

“We need to proceed with some caution, maintain safe working practices, but at the same time we must continue to be optimistic. As such we have robust plans in place to help XYZ continue on this positive trend,” added Mr Atherton. “These include stepping up our machine orders with suppliers to increase stock levels, new machine introductions, partnering Ceratizit as it opens a new showroom in Sheffield, which will have XYZ 750LR, XYZ RLX425, XYZ RMX3500, XYZ UMC-5X, XYZ 320LTY, and an XYZ 800HD machines in place.

He added: “We will also be opening our own showroom in Huddersfield later this year. This 5000ft2 facility is located just off the M62 and will serve customers either side of the Pennines with training and demonstrations.”

XYZ Machine Tools

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Lena Berryhttps://otcbbstocknews.com
Lena Berry is the executive editor of OTC BB Stock News. Apart from managing the large team of writers, you will find her writing about various topics.

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