Manganese Bronze, one of the main manufacturers of London black cabs, has signed an agreement with electric vehicle maker Tanfield to make battery powered taxis that should hit the streets by mid 2009.

it has stopped going down.

my best day ever.

IT STILL GOING DOWN

What a chart!

Bad statement...


Interim Management Statement

22nd October 2008


Manganese Bronze Holdings PLC (''Manganese Bronze'' or the ''Group''), the leading manufacturer of the distinctive London taxi, today announces its interim management statement for the period 1 July to 21 October 2008.

Current Trading

Trading in the UK continues to be impacted by the uncertain macro economic conditions, as we previously flagged in our interim results in July. As reported then, the Board believes that demand for new vehicles in the second half of the year will follow the normal seasonal pattern and be below that of the first half. UK business conditions continue to be uncertain, which makes forecasting the level of demand for new vehicles more challenging. Overall vehicles sales for the nine months to the end of September are down 37.5%, to 1,628 vehicles versus 2,604 vehicles in the comparable period last year. This is due to a combination of uncertain economic conditions and the fact that the comparative period saw a near record sales volume following the successful launch of the TX4.

Earnings continue to be negatively impacted by three factors: the strength of the Euro increasing the cost of engines purchased from Italy; the costs of supporting the joint venture set up with engineers; and the cost of the international sales and marketing team.

We have responded to lower sales and higher working capital by reducing vehicle output to lower inventory levels, implementing an aggressive reduction in operating costs, and headcount reductions. The result of these actions is a 15% reduction of the manufacturing break-even level to approximately 2,000 vehicles per annum.

Taxi cab sales weaken - MoneyAM


Manganese Bronze said trading in the UK continues to be depressed by the weak economic conditions.

The manufacturer of the iconic black London taxi cab said that demand for new vehicles in the second half of 2008 will be below those of the first six months.

The company said vehicles sales for the nine months to end of September were down 37.5% to 1,628 vehicles, compared to 2,604 vehicles in the same period last year.

It added that earnings continue to be negatively impacted by the strength of the euro which increased the cost of engines purchased from Italy.

In response, the group proposes to reduce output to lower inventory levels, implementing an aggressive reduction in operating costs and making job cuts. This will result in a 15% reduction of the manufacturing break-even level to around 2,000 vehicles per annum.

'The UK market place remains challenging and the board does not expect that UK sales will exceed the manufacturing break-even point in 2008,' the group said in a statement.

BAYLIS - 03 Jul 2008 21:25 - 9 of 24
STILL GOING DOWN. I SEE 130p
The recession is the Key when MNGS stop going down it will signal the beinging of the end of the recession.

I seem to remember there was a comapny called 'Carbodies' who used to make black cabs. Are they still going or are MNGS the only manufacturer now?

Harrycat, Carbodies was taken over by the BSA group which in turn was bought by MNGS.

Incidentally, MNGS is comprised of Mann & Overton, repairs & servicing and LTI (London Taxis International), manufacturing.

A bit of good news for MNGS holders amidst the gloom and doom.


RNS Number : 6314G
Manganese Bronze Hldgs PLC
27 October 2008



27 October, 2008

New Order for 200 Taxis for Bahrain

Manganese Bronze Holdings PLC, the leading manufacturer of the distinctive London taxi, is pleased to announce its largest international order to date, with the middle eastern state of Bahrain signing a contract for 200 taxis.

The Bahrain Economic Development Board (BEDB) has chosen the London taxi because of its strong brand values and global reputation. The first 50 taxis, which are white in colour with a chequered flag roof, will be delivered to the Arabian Taxi Company in December of this year. The remaining 150 will be delivered by March 2009 and operating as taxis at the time of the Bahrain Formula One Grand Prix in April. The vehicles will be manufactured by LTI in Coventry. The BEDB established the Arabian Taxi Company to re-issue 300 of Bahrain's 900 taxi licences in an attempt to regenerate licences held by retired taxi drivers and their families.

John Russell, Chief Executive of Manganese Bronze plc, said:

'This deal highlights the move by an increasing number of international governments, businesses and operators to look for a viable transport solution to their current public transport problems. It demonstrates the very real international appeal of the London taxi even before we have begun commercial production at our new joint venture in China. We hope to supply Bahrain with more taxis and look forward to working with their middle eastern neighbours in the near future.'

'The London taxi will provide Bahrain with a premier taxi service and passengers will benefit from a safe, secure and comfortable mode of transport. Bahrain's old and unreliable taxi fleet will be replaced with a professional service that closely resembles London's unrivalled transport network.'


For further information, please contact:



Manganese Bronze Holdings PLC

John Russell, Group Chief Executive
02476 572108
Mark Fryer, Group Finance and Business Development Director
02476 572223


Financial Dynamics

Jon Simmons
020 7831 3113

So they weren't put off by the recent spate of under-bonnet fires & subsequent recalls then? The sales team must have really earned their money!

If the sales team are worth their salt, they would have sold fire extinguishers with the cabs!

84.5p and still weakening.

and still dropping like a brick...50p now.

MY GOD NOW. BELOW 50P

MY TIP FOR 2009.

RESULTS 5 MAR 09.www.manganese.com

TIMETOBY.