Manganese Bronze hikes up overseas sales
International revenue has continued to drive Coventry-based Manganese Bronze holdings in the wake of poor UK sales. The black taxi manufacturer said international sales in its latest quarter were up 178 per cent.
Trading in the UK continues to be impacted by "uncertain macro economic conditions", the company said. UK sales for the quarter ended 30 September 2011 were down 8.6 per cent at 426 vehicles.
For the year to date, UK sales have totalled 1,174 vehicles, down 7.5 per cent on its 2010 results.
International sales for the quarter soared by 178 per cent at 217 vehicles, bringing the year to date international sales to 691. Of these, 500 were half of a major order from Azerbaijan. The remaining 500 are due for delivery in the last quarter of the year, said Manganese Bronze.
Orders for 2011 of 1,329 vehicles are ahead of the company's previously stated target of 1,000.
Despite UK sales volumes having been "below forecast", the company said its share of the London market for the quarter increased from 79 per cent to 81 per cent.
