British Steel in profit after winning 'significant' contracts

British Steel ended last year in profit and plans to reinstate the 3% salarysacrifice it agreed with workers when it took over the business last summer.

The company, bought from Tata by investment fund Greybull, said its turnaround plan was making progress and it was on track to deliver sustainable growth.

The Scunthorpe-based business said it had secured a series of "significant"contracts, including deals supplying steel for the construction of the HinkleyPoint nuclear power station in Somerset and rails for the Algerian and Italiantrain networks.

Credit: Press Association

British Steel's executive chairman Roland Junck said:

Scunthorpe's steelworks have endured a rocky couple of years Credit: Press Association

The return of the 3% salary sacrifice is planned for the 4,000 employees inJune.

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