July 24, 2019 / 6:27 AM / 4 months ago

Drax first-half profit boosted by Iberdrola plants deal

July 24 (Reuters) - British power generator Drax Group Plc 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 .

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 ($171.70 million), including 36 million pounds from the new assets. ($1 = 0.8037 pounds) (Reporting by Muvija M in Bengaluru; Editing by Shounak Dasgupta)

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