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| Taxi firm Manganese Bronze issues profit warning http://www.taxi-driver.co.uk/phpBB2/viewtopic.php?f=2&t=18277 |
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| Author: | captain cab [ Mon Jan 09, 2012 9:38 am ] |
| Post subject: | Taxi firm Manganese Bronze issues profit warning |
Manganese Bronze, the firm which makes the distinctive London taxi, has said it made no profit in 2011 and could fall short of expectations for the current 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%, it said. But overseas sales were much stronger. The company sold 705 vehicles compared with 226 in 2010. 'Lower sales' In March last year, the firm secured a $27m (£18m) order from Azerbaijan - its single largest order to date. However, a delay in shipping the second half of this order, which was meant to be dispatched in October, means the company will not record a profit in 2011. "The overall impact of lower UK sales and a delayed fulfilment of the Azerbaijan order will prevent the group from achieving a profitable result for the year ended 31 December 2011," the company said in a statement. It had previously said it expected to return to profit last year. "Whilst a proportion of this shortfall should be recovered when the delayed Azerbaijan sales are recorded in 2012, any continued softening of global economic conditions would mean that the group is likely to fall short of meeting expectations for the current year," the statement continued. Chinese car group Geely owns 20% of Manganese, which switched production from Coventry to China as part of its restructuring. http://www.bbc.co.uk/news/business-16465659 |
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| Author: | Sussex [ Mon Jan 09, 2012 9:55 am ] |
| Post subject: | Re: Taxi firm Manganese Bronze issues profit warning |
I wish I had a pound every time Manganese Bronze issued a profit warning. I'd have more money than the Queen. |
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| Author: | grandad [ Mon Jan 09, 2012 10:22 am ] |
| Post subject: | Re: Taxi firm Manganese Bronze issues profit warning |
captain cab wrote: fulfilling an order for 1,000 taxis from Azerbaijan. In March last year, the firm secured a $27m (£18m) order from Azerbaijan I see, so the cabs cost £18,000 if sold to Azerbaijan and how much if sold here? |
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| Author: | gusmac [ Mon Jan 09, 2012 7:10 pm ] |
| Post subject: | Re: Taxi firm Manganese Bronze issues profit warning |
Quote: The group blamed the weak UK economy, uncertainty over the global economic outlook and a delay in fulfilling an order for 1,000 taxis No mention of a crap overpriced product then? |
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| Author: | skippy41 [ Mon Jan 09, 2012 8:03 pm ] |
| Post subject: | Re: Taxi firm Manganese Bronze issues profit warning |
gusmac wrote: Quote: The group blamed the weak UK economy, uncertainty over the global economic outlook and a delay in fulfilling an order for 1,000 taxis No mention of a crap overpriced product then? I wish they would tell the truth, that there cabs are the biggest heaps of sheit on the planet, with 2 exception the fx4 / TX1 Nissan engine ones, mind you they still rust |
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| Author: | edders23 [ Tue Jan 10, 2012 6:18 pm ] |
| Post subject: | Re: Taxi firm Manganese Bronze issues profit warning |
Skippy what is it with you and these cabs why do you have such a grudge against them ? |
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| Author: | toots [ Fri Jan 13, 2012 11:53 pm ] |
| Post subject: | Re: Taxi firm Manganese Bronze issues profit warning |
grandad wrote: captain cab wrote: fulfilling an order for 1,000 taxis from Azerbaijan. In March last year, the firm secured a $27m (£18m) order from Azerbaijan I see, so the cabs cost £18,000 if sold to Azerbaijan and how much if sold here? Probably the same. That'll be the wholesale price surely? |
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