Press Releases

Interim results for the six months to 31 January, 2006.

5th April 2006

Manganese Bronze Holdings PLC, the leading manufacturer of the distinctive London black taxi, announces its unaudited interim results for the six months to 31 January 2006.

Highlights

• Profit before tax doubled to £1.0 million (2005: £0.5 million)
• Interim dividend up to 2p (2005: 1p)
• UK new taxi sales 1,106 (2005: 1,108)
• Net debt £2.3 million at 31 January 2006 (31 January 2005: £1.8 million)
• IFRS adopted

Subsequent Event

• Sale of Ipswich surplus property completed, £4.2 million cash received

Ian Pickering, Chief Executive of Manganese Bronze, said;

“The decision by the Public Carriage Office to retain the turning circle after their second detailed review of the Conditions of Fitness has reaffirmed the benefits of a purpose built taxi vehicle for major world cities like London.

“We are committed to continuing to develop our vehicle to meet the needs of our home market and to pursuing its potential overseas.

“The sale of our surplus Ipswich property completes the restructuring process that we began in 2003 which has generated significant cash resources for the Group since that time. We are considering our future dividend policy in light of the Group’s requirement for cash to deliver its strategy.”

For further information see unaudited interim results (PDF format - 104Kb)

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