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The Guardian - UK
The Guardian - UK
Business
Nick Fletcher

Cab maker Manganese Bronze warns on profits

Higher than expected warranty costs and falling black cab sales have combined to hit profits at Manganese Bronze.

The cab maker has warned that full year profits will be below expectations because of the recession and caution among drivers. On top of that the company is still dealing with the fallout from a spate of fires in the TX4 cab. Today it said:

[The company] has identified a higher than expected warranty spend, mainly related to the now resolved TX4 radiator rectifications, which will be included in the preliminary results.

The news has sent the company's shares down 23p at 85p.

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