Call Sign April 2007 - Page 5 - IT’S THE SWAP SHOP FOR TOM AND ALLAN

Following the recent Dial-a-Cab AGM where the standing BoM were re-elected, the Board meeting following decided that with them all having held the same positions for several years, a change round was due. As a result, Tom Whitbread and Allan Evans have changed their positions and as of 2 April Tom will be moving to Roman Way with Allan making the reverse trip to take over as the Complaints Officer. Tom told Call Sign: "Complaints may be just another job at DaC, but there can be little doubt of the anti-popularity effect on whoever does it. Call me a masochist, but I had almost become used to being hated! However, it	IT’S THE SWAP SHOP FOR TOM AND ALLAN
	Tom will be different for me to be able to speak to drivers without them wondering what I’m up to!" Allan chipped in: "I can see how organised Tom has been,	...and Allan but I am looking forward to the change – whether it will be as the saying goes, as good as a rest, I somehow doubt! But it’s good for DaC to change positions occasionally…"

SELLING OFF TX2 DENTS MANGANESE PROFITS

MBH Chairman Tim Melville-Ross

The cost of its ‘special deals’ in selling off the last of the TX2s and in preparing for the TX4 dented the profits of LTI parent company, Manganese Bronze, half-year profits.
In announcing its interim results for the six months to 31 January 2007, MBH said that October 2006 had seen it successfully launched the TX4. However, it had offered huge discounts on its stock of TX2’s prior to release.
Call Sign Editor, Alan Fisher, was one of those who took advantage of the sell-off.
"They offered Ł2,500 off the price of a new TX2 and a much higher price than I would have expected for my old TX2. I would certainly have got nothing like it now, several months on. Even though it was obvious the TX4 was around the corner, I don’t regret the deal. I got a new ‘Gold’

model, an extra 3-years warrantee and I saved a huge amount!"
   New taxi sales were up 21.3 per cent to 1342 vehicles (236 up on the previous year), but its operating profit at Ł1million was Ł200,000 down on the previous year. However, that "loss" included around Ł700,000 to sell the last of the old TX2s and prepare for the TX4 with depreciation of almost Ł5.5 million due to the TX4 development and tooling costs. This figure will be written off over five years.
   Shareholder approval was given in January for the company’s joint venture with Geely Automobile Holdings to form the Shanghai LTI Automobile Company. The aim is to produce London taxis in Shanghai, as well as a limousine style variant of the London taxi and two large saloon cars.
   Manganese Bronze Chairman, Tim Melville-Ross, said that MBH had enjoyed a first half of significant achievement with the signing of the Chinese joint venture and the launch of the TX4, which, he said had been very well received by the trade. He further expected sales to continue rising.
   The company is increasing the interim dividend to 2.25 pence a share against 2 pence in 2006.

Jay Sands

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