Jamie Borwick, the chief executive, said: `The launch of our new taxi was by far the biggest event in our recent history. The market reception has exceeded all our expectations and we are now producing the TX1 at a higher rate than we have ever made taxis before.'
Hugh Lang said the disruption caused by the launch of the TX1 meant profits for the full year would be lower than achieved in the previous 12-month period. Shares in the company slipped on the profits warning, ending the day at 406p, down 6.5p.
The company is paying an interim dividend of 4p, up from 3.5p previously.