Drax expects earnings to beat market consensus

DRAX, the operator of Britain's largest coal-fired power station, said it expects its earnings for the full year to be slightly ahead of the market consensus.

By The Newsroom

Published 14th Dec 2010, 08:18 BST

The group, which is based near Selby, said that it had maintained a high load factor and improved its profitability.

"While the commodity markets in which we operate remain challenging, as previously described, we benefit from a strong contracted position," it said.

It anticipates that earnings before interest, tax, depreciation, amortisation (EBITDA) and underlying earnings per share for 2010 will beat the market consensus.

The market consensus for full-year EBITDA currently stands at 376m, according to a Reuters survey of 15 analysts.

Britain