P208 CEEFAX 208  Mon 11 Nov  22:44/44
     G
      BRITISH STEEL        
      PROFITS SLUMP        
 
 British Steel profits more than halved 
 from £550m to £262m in the first half  
 as weak prices took their toll.        
                                        
 Analysts had forecast profits in a     
 range between £250m and £300m.         
                                        
 The company said there weti signs that 
 European destocking was coming to an   
 end and thjte were price increases in  
 some products.                         
                                        
 However, the pound's recent strength   
 was "a concern", it admitted.          
                                        
 The interim dividend was held at 3p.   
                                        
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