Shares in the company that makes London's famous black taxi cabs have fallen after it issued a mixed trading statement.

Manganese Bronze said the performance of its components division would be lower than expected because of an unprofitable contract.

Despite this, the taxi maker said its overall full -year performance would be "in line with expectations."

In London trade Manganese Bronze shares were down 10.5p at 134p by mid-afternoon.

The company also said the development of its new taxi hailing service 'Zingo' was progressing slower than expected.

The service will allow people to contact the nearest free taxi through their mobile phone.

Earlier this month Manganese announced it had signed a deal with a Chinese car manufacturer which will lead to the famous black cabs being made and sold in China.