Drax sees annual profit above expectations

UK energy producer Drax said it expected full-year earnings to be slightly above the top of the range of analyst expectations on the back of higher prices and a strong pumped storage and hydro performance in the second half of 2022.
The company’s own compiled consensus for 2022 adjusted EBITDA was £668m, with a range of £651-£681m.

Reporting by Frank Prenesti for Sharecast.com

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