Anyone in Azerbaijan wanting to hail a taxi is finding it trickier than they expected after a delay in manufacturer Manganese Bronze delivering the vehicles.
The company was supposed to ship the remaining 500 vehicles of a 1000 taxi order in October, but delays in securing finance due to the eurozone crisis mean they will not be dispatched until the end of this month. The delay - along with a 14.6% drop in UK orders in the fourth quarter - will push Managanese Bronze into a loss for 2011.
The company said some of the shortfall should be recovered in 2012 once the Azerbaijan deal is completed. But if global economic conditions continue to weaken, it warned it was likely to miss City expectations for the current year.
Shares in the company - where Chinese car group Geely owns 19.97% - have fallen 3.25p to 28.5p.
