Port Talbot steelworks owner makes first pre-tax profit in 13 years

Tata Steel UK reported a pre-tax profit of 82m in the year to the end of March

The owner of Port Talbot steelworks in south Wales has made its first pre-tax profit in 13 years thanks to record steel prices and a recovery in demand across Europe as pandemic restrictions eased.

Tata Steel UK (TSUK) reported a pre-tax profit of 82m in the year to the end of March, a dramatic improvement on the 347m and 654m losses of the previous two years.