Tata Steel Group records third quarter loss (From The Northern Echo)
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Tata Steel Group records third quarter loss
4:11pm Thursday 9th February 2012 in North-East Business News
Tata Steel Europe chief executive Karl-Ulrich Koehler's prediction of a difficult third quarter proved true yesterday as interim results for the Tata Steel Group worldwide showed it to have made a loss of £72m in the three month period compared to a profit of £119m for the same time last year.
It came after raw material costs increased while demand dropped in Europe, its largest market.
However it has still recorded a profit after tax of £590m during the first nine months of the financial year compared to a profit of £572m for the same period last year.
