Burlescombe-based XYZ Machine Tools (www.xyz machinetools.com) has reported that the first quarter of its 2019/2020 financial year has continued the strong growth in turnover that saw it post record figures for its year ending April 2019.

Indeed, the first quarter saw its turnover rise by over 6%, with the market remaining strong across the company’s product range.

Managing director Nigel Atherton said: “This continued growth is extremely encouraging, as we have seen reports that other businesses are finding the current situation with Brexit uncertainty challenging.

"Our introduction of machines such as the LR range of machining centres and five-axis machines has opened up new opportunities for us with customers that may not previously have been typical XYZ customers.

"Our on-going challenge is to maintain this momentum, and this will be helped by new products such as our Robo-Tend machine tool automation system, which is already generating significant interest.”

This sales growth has also led to another accolade for the company, with it gaining 17 places in the Western Morning News annual list of the top 150 businesses in Devon and Cornwall, in which it rose from 135th to 118th.

Mr Atherton added: “This is no mean feat, given that these 150 companies have a combined turnover of £14 billion and the top 10 alone account for over £6 billion of that.

"It is great news that we are out-growing 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.”