BREAKING NEWS

BREAKING NEWS

Drax profit rises 9 percent on higher biomass power generation, pellet output

Drax profit rises 9 percent on higher biomass power generation, pellet output
FILE PHOTO: The first phase of a new wind farm is seen next to Drax power station in Drax, northern England, September 2, 2010. REUTERS/Nigel Roddis -
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Nigel Roddis(Reuters)
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(Reuters) - British power producer Drax Group Plc reported a 9 percent rise in full-year core earnings on Tuesday, driven by higher levels of renewable power generation from its biomass units.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 250 million pounds for the year ended Dec. 31 from 229 million pounds a year earlier, also boosted by higher pellet production at lower costs.

(Reporting by Arathy S Nair in Bengaluru; Editing by Bernard Orr)

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