LONDON: 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.
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