Drax FY EBITDA up 144 pct to 583 mln stg UPDATE |
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Thu, 08 Mar 2007 09:07
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(Adds pretax and fuel costs)LONDON (AFX) - Drax PLC, operator of the biggest coal-fired power plant in the UK, has unveiled full-year results showing EBITDA up 144 pct to 583 mln stg.The surge in profits prompted a special dividend of 32.9 pence per share, on top of the final ordinary dividend of 9.1 pence per share. Total dividend for the year was therefore 134.7 pence per share.Drax pledged to improve plant efficiency by 40 pct and confirmed its target of 10 pct output to be produced from biomass by 2009.Including exceptional gains for this year, pretax profits were up even more to 634 mln stg, compared to 263.6 mln stg last year.Fuel costs in respect of generation in the year to Dec 31, 2006 were 548 mln stg, compared to 460 mln stg in 2005. The difference was due to increased generation, the impact of higher prices for CO2 emissions allowances, and an increase in the cost of coal and other fuels.newsdesk@afxnews.comgh/vlb/gh/abrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Drax receives £2.25 billion bid from Constellation 