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

A train carrying molten iron in front of the steel factory building at the Tata steel plant in Port Talbot. Photograph: Ben Birchall/PA

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.