BLACK cab maker Manganese Bronze said it was well-placed to return to profit after a shake-up saw it shift production of parts to China.
The company said that restructuring the business, which resulted in job losses at its Coventry factory, has increased its margins to a level that will allow it to return to profit.
Operating losses were reduced by 73% to £1.9m in 2010 while sales fell by 5% to £69.6m.
The firm’s future prospects have also been boosted by an order for 1,000 vehicles from Azerbaijan in recent weeks.
The Coventry-based London Taxis International arm, which has manufactured the cabs since 1948, has now moved to an assembly role using parts made in China.