{"id":26977,"date":"2018-09-13T10:59:40","date_gmt":"2018-09-13T10:59:40","guid":{"rendered":"http:\/\/www.newsteelconstruction.com\/wp\/?p=26977"},"modified":"2018-09-13T10:59:40","modified_gmt":"2018-09-13T10:59:40","slug":"british-steel-announces-strong-profit-and-investment-2","status":"publish","type":"post","link":"https:\/\/www.newsteelconstruction.com\/wp\/british-steel-announces-strong-profit-and-investment-2\/","title":{"rendered":"British Steel announces strong profit and investment"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-26953\" src=\"http:\/\/www.newsteelconstruction.com\/wp\/wp-content\/uploads\/2018\/09\/nBritish-steel1809.jpg\" alt=\"\" width=\"600\" height=\"338\" srcset=\"https:\/\/www.newsteelconstruction.com\/wp\/wp-content\/uploads\/2018\/09\/nBritish-steel1809.jpg 600w, https:\/\/www.newsteelconstruction.com\/wp\/wp-content\/uploads\/2018\/09\/nBritish-steel1809-300x169.jpg 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/>Steelmaker British Steel has reported a first quarter profit for the current financial year (2018\/19) of \u00a321M, and has stated that its turnaround remains firmly on track.<\/p>\n<p>In its second annual trading update since its change of ownership, the previously loss-making company has seen full year profits rise to \u00a368M for 2018, up from \u00a347M in its first year.<\/p>\n<p>British Steel Executive Chairman Roland Junck said: \u201cOur transformation continues apace with unprecedented levels of investment going into the business.<\/p>\n<p>\u201cIncreased raw material costs and fluctuating steel prices continue to be a challenge. It\u2019s important safeguarding action is taken to prevent the dumping of cheap steel into Europe following the imposition of steel tariffs by the US. However, we remain in positive talks with the Government, and our other stakeholders, and are confident about our future.<\/p>\n<p>\u201cOur order book is strong and we\u2019ve the capacity and capability to play a significant role in major infrastructure projects such as HS2 and the Heathrow expansion. We continue to invest in our people and <a href=\"https:\/\/www.steelconstruction.info\/Steel_construction_products\" target=\"_blank\" rel=\"noopener\">products<\/a>, remain focused on reducing the cost of liquid steel and are growing into new markets across the globe.\u201d<\/p>\n<p>The company has also announced a \u00a350M wire rod investment that will see a new modern wire rod line open at the company\u2019s current Scunthorpe Rod Mill.<\/p>\n<p>The new line is set to be commissioned in autumn 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Steelmaker British Steel has reported a first quarter profit for the current financial year (2018\/19) of \u00a321M, and has stated that its turnaround remains firmly on track. In its second annual trading update since its change of ownership, the previously loss-making company has seen full year profits rise to \u00a368M for 2018, up from \u00a347M [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":26953,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1813,842,1882],"class_list":["post-26977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-british-steel","tag-scunthorpe","tag-wire-rod"],"jetpack_featured_media_url":"https:\/\/www.newsteelconstruction.com\/wp\/wp-content\/uploads\/2018\/09\/nBritish-steel1809.jpg","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p3WsLP-717","_links":{"self":[{"href":"https:\/\/www.newsteelconstruction.com\/wp\/wp-json\/wp\/v2\/posts\/26977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsteelconstruction.com\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsteelconstruction.com\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsteelconstruction.com\/wp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsteelconstruction.com\/wp\/wp-json\/wp\/v2\/comments?post=26977"}],"version-history":[{"count":1,"href":"https:\/\/www.newsteelconstruction.com\/wp\/wp-json\/wp\/v2\/posts\/26977\/revisions"}],"predecessor-version":[{"id":26978,"href":"https:\/\/www.newsteelconstruction.com\/wp\/wp-json\/wp\/v2\/posts\/26977\/revisions\/26978"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsteelconstruction.com\/wp\/wp-json\/wp\/v2\/media\/26953"}],"wp:attachment":[{"href":"https:\/\/www.newsteelconstruction.com\/wp\/wp-json\/wp\/v2\/media?parent=26977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsteelconstruction.com\/wp\/wp-json\/wp\/v2\/categories?post=26977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsteelconstruction.com\/wp\/wp-json\/wp\/v2\/tags?post=26977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}