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Drax first-half profit boosted by Iberdrola plants deal

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By Reuters
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(Reuters) – British power generator Drax Group Plc <DRX.L> on Wednesday reported a jump in adjusted core earnings for the first half, partly boosted by its purchase of gas, hydro and pumped storage power plants from Spain’s Iberdrola SA <IBE.MC>.

Drax’s adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the six months ended June 30 rose 35.3% to 138 million pounds, including 36 million pounds from the new assets.

(Reporting by Muvija M in Bengaluru; Editing by Shounak Dasgupta)

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