XYZ Machine Tools (www.xyzmachinetools.com) has continued its record-breaking run of year-end results, achieving a £33.9 million turnover for its 2018/2019 financial year — an 11% increase.

The company says this growth is the result of continuing optimism expressed by the UK manufacturing sector, along with increased sales within the education sector and mainland Europe.

Managing director Nigel Atherton said: “This optimism is reflected by 33 months of sustained growth in manufacturing — as confirmed by the Purchasing Managers’ Index, which remains resolutely above 53 — and the Bank of England’s upgraded growth forecast.

“On top of this, inward investment remains robust, and with that comes greater demand for machine tools. Furthermore, a recent survey by the organisers of the Subcon show suggests that some 65% of manufacturing businesses are positive about investment.

"Indeed, there is currently some amazing positivity in the manufacturing sector, despite the uncertainty around Brexit.

“Our sales have been bolstered by a mix of this positivity and the introduction of new products to our portfolio; these include the LR series of vertical machining centres, our two UMC five-axis machining centre models and the latest generation of ProtoTrak RMX and RLX controls for our mills and lathes — plus we have plans in the pipeline for more new product developments, along with the opening of a new showroom in the North of England.”