It has certainly been an eventful year for Cube in 2019. Not only has it marked our ten year anniversary, but despite the challenging times that we are all facing, it has also been our best year in terms of order intake.
The first half of the year saw us celebrating record breaking figures with increased turnover and a record order book despite the uncertainty around Brexit and the impact that it is having on the UK economy. The increase in orders was driven primarily by new projects coming through from the Automotive Industry including an order for new technology on PHEV model for a world leading luxury OEM brand. The second half of the year has been all about projects from our Aerospace customers.
We’ve also won new business from new customers, with a significant six figure deal from a new customer in the materials testing industry, and also re-established relationships with some customers that we haven’t worked with for a number of years.
And we’re thrilled that as well as bringing new business in, we’re keeping our existing customers happy too, which is really important to us as over the last three years 92% of our revenue has come from returning customers. When we went out earlier this year and surveyed the customers that we’re currently working with, 100% said they would be happy to recommend us and are more than happy with the service that we have been delivering for them (link to existing blog).
To keep up with the increase in orders and to maintain the confidence that our customers have in our delivery we have also invested this year in a new MTE BF3200 CNC milling machine to take the pressure off several of our key machines in our ‘large machine shop’.
We are also adding to that with the two other machines, a Hurco DCX 22 and VMC 10, which should be in and working before Christmas.
We are as a team committed to delivering to the high standards that we are known for in terms of our capacity and capability.
So, what does 2020 have in store for us?
Neil Clifton MD comments, ‘We certainly won’t be taking our foot off the gas in 2020, our intention is to build on our success from this year. We are in advanced talks with new customers surrounding fuel cells and ow we can help in the manufacture of their housing on new luxury vehicles as well as adding new people to the team..
We need to future proof the business by nurturing new talent through apprenticeships and giving training opportunities to the younger members of the team to develop within technical toolmaking and machinist jobs.
We’re looking forward to the new year and all that it will bring.’
To find out more about Cube Precision Engineering and the work that we do click here.
6th December 2019