Black cab firm anticipating sales dip

LONDON black cab manufacturer Manganeze Bronze has said sales for the first half of the year are expected to be lower than last year but is expecting things to pick up in the second half.

The Coventry firm said in in an interim management statement issued this morning that after a promising start to the new financial year, trading in the UK has slowed.

“Business confidence remains weak due to the continuing concern over the macroeconomic environment. As a result, UK sales in the first half of the year are expected to be below those of the previous year,” it said.

But it is more optimistic about the second half of 2012.

“Sales in the second half of the year are anticipated to be stronger than in the first half due to the positive impact on demand for the new Euro V TX4 taxis in London arising from the Mayor’s Air Quality Strategy,” it said.

It also said further international orders are anticipated following the 500
vehicles for Azerbaijan that  were shipped and paid for in March.

2012 and further international orders are anticipated.

Managaneze Bronze said the slowdown in UK sales has increased the stock of new vehicles and, accordingly, its cash flow is less than previously anticipated.