Tata steel returns to profit in UK and Europe
8 February 2017
Tata’s European steel business - which includes its sprawling Port Talbot site - is back in profit.
A combination of operational improvements, currency movements, lower energy costs and stronger steel prices helped the Indian-owned company’s European arm deliver £74m of earnings before interest, tax, depreciation and amortisation in the third quarter.
This compares with a £90m loss during the same period last year, when the steel industry was deep in crisis.