XYZ Machine Tools reported £25m of sales in 2013/14.
The firm, also celebrating its 30th birthday, cited new machines, a strengthening UK manufacturing landscape and a rise in exports to mainland Europe, as the reasons for the surge in sales.
Nigel Atherton, XYZ Machine Tool’s managing director said: “These record sales figures come on the back of three years of solid growth for us and we are encouraged by the signs that the UK economy is continuing to grow and manufacturing is playing an important role in that.
“Customers are recognising the need to invest in new machine tools in order to strengthen their competitive edge through increased machine efficiency.
“Our advantages at XYZ are our diverse range of machines from ProtoTRAK controlled mills and lathes, through to multi-axis CNC machines, along with the fact that many of these machines are held in stock at our headquarters in Devon.
“These, and our loyal customer base, put XYZ Machine Tools in a very strong position to continue this trend of year-on-year growth.”
12% of last year’s turnover represents European sales.
Andrew Kilshaw, export sales manager, will develop the organisation’s network of 16 distributors and before the end of 2014 aims to have a tier one distributor in every European country.