British steelmaker maintains profit improvement

British steelmaker Corus benefited from higher selling prices today as profits continued to climb towards the end of a three-year recovery programme.

The group, which is currently a takeover target for India’s Tata Steel and Brazil’s CSN, said profits from continuing operations rose to £171m (€253m) in the three months to September 30, compared with £75m (€111m) a year earlier.