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Manganese Bronze
- BY: Andrew Hore |
- POSTED: 09/01/2012 |
- COMMENTS: Add yours
Black cab maker Manganese Bronze says that fourth quarter taxi sales were lower and it will not make a profit in 2011.
There were 328 taxis sold in the UK in the fourth quarter of 2011 , compared with 384 in the fourth quarter of 2010. The final 500 taxis of the 1,000 ordered for Azerbaijan will be delivered in January. There were 14 taxis sold outside of the UK in the fourth quarter.
Manganese Bronze sold 1,502 taxis in the UK in 2011, down from 1,653 in 2010,while there were 705 international sales, compared with 226 in 2010.
Even with the 500 taxis being sold to Azerbaijan this is going to be another tough year.
Major shareholder Geely continues to work with Manganese Bronze on launch of its own products in the UK and the development of the TXN taxi, which is due to launch in 2014.
At 28.5p a share, down 3.25p, Manganese Bronze is valued at £8.68m.
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