Cab sales soar

Cab sales soar

SALES at Manganese Bronze accelerated to record levels after the launch of its new TX1 London taxi last October, the black-cab maker said yesterday. Profits before tax fell from pounds 8.3m to pounds 5m for the year to 31 July. Hugh Lang, chairman, said the fall was due to higher than expected costs of introducing the first completely new model for many years.

However, turnover rose 13 per cent to pounds 115.0m, climbing 29 per cent in the second half as taxi sales rose 24 per cent year-on-year to 1,803.