Manganese Bronze, the maker of London black cabs, saw sales fall 6.8% in the UK in the first six months of the year because of “challenging market conditions” but said that strong international sales will help it return to profitability in the second half.
UK sales fell to 748 vehicles for the January-June period, while international sales volumes in the first half quadrupled to 474.
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Chief executive John Russell said in a statement: “The level of profitability is directly linked to UK new vehicle sales volumes, which are difficult to predict in the current macro economic environment.”
Pretax loss for the first half narrowed to GBP700,000 (US$1.1m), compared with GBP4.9m a year ago. Group revenue rose 16% to GBP38.7m.
