Eco City Vehicles Plc. (ECV.L) announced its audited results for the year ended 31 December 2012. Loss for year attributable to owners of parent narrowed to 944 thousand pounds from the prior year's 2.00 million pounds, with loss per share narrowing to 0.21 pence from the previous year's 0.60 pence.
The loss before tax narrowed to 1.0 million pounds from last year's 2.7 million pounds.
Group revenues increased by 38% to 30.5 million pounds from last year's 22.2 million pounds, driven by an increase in demand for new and used Mercedes Vito taxi, partially offset by a decline in parts and after sales revenues.
"The positive trading momentum seen last year has continued into 2013 driven by increasing demand for new Euro V model Vito and the 15-year age limit introduced for London licensed "black cabs". ECV is also considering diversification into complementary niche vehicle markets as part of the Group's long term growth strategy. These plans will be finalised and announced in due course. Given the trading momentum and a new executive team to drive the next phase of growth, we look to the future with confidence," the company said.
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