Manganese's Zingo loses its way

BLACK cabs maker Manganese Bronze is banking on a tough winter to boost the fortunes of its 'revolutionary' mobile-phone-based hailing service.

London taxis' take-up of the automatic-location system is going 'at a slower rate than expected' said chief executive Ian Pickering.

Around 700 London cabs are now signed up to Zingo and Pickering said: 'Rain, cold weather and a busy Christmas will increase the use of taxis and should have a beneficial effect.'

His comments coincided with the company increasing its annual pre-tax losses from £2.9m to £10m for the 12 months to 31 July, including £3.3m of Zingo development costs.

Manganese has spent the past year selling off its loss-making components division and a site in Coventry to concentrate on its core cabmaking business and Zingo technology.

But taxi sales dropped 10.8% for the year to 2320 vehicles, reflecting London's 'weak economic climate'.

Pickering declined to predict when Zingo would start making a monthly profit on its £8.5m investment.