Black cab maker Manganese Bronze has said it made no profit in 2011 and could fall miss targets this year. The group blamed the weak UK economy, uncertainty over the global economic outlook and a delay in fulfilling an order for 1,000 taxis from Azerbaijan.
The firm sold 1,502 taxis in the UK last year, compared with 1,653 in 2010 - a fall of 9.1 per cent. However international sales are growing, the company said. Manganese Bronze sold 705 vehicles compared with 226 in 2010. A delay in securing finance means that the last 500 taxis of its Albanian order will now be shipped by 30 January at the earliest. “The overall impact of lower UK sales and the delayed fulfilment of the Azerbaijan order will prevent the group from achieving a profitable result for the year ended 31 December 2011,” Manganese Bronze said.