Tata Steel UK hit by pandemic-fuelled slump in demand but managed to reduce yearly losses
The owner of Port Talbot steelworks crashed to a £347m annual loss as the pandemic hit demand, but insisted its finances are healthier after its parent, Tata, pumped in almost £1bn of equity.
Losses at Tata Steel UK in the year to the end of March improved from £654m a year earlier but underlined the struggles of Britain’s steel industry.
