Edition:
United Kingdom

Drax Group PLC (DRX.L)

DRX.L on London Stock Exchange

367.40GBp
21 Sep 2018
Change (% chg)

1.40 (+0.38%)
Prev Close
366.00
Open
365.00
Day's High
369.40
Day's Low
364.80
Volume
8,042,760
Avg. Vol
1,576,782
52-wk High
389.80
52-wk Low
218.00

Latest Key Developments (Source: Significant Developments)

Deutsche Bank Discloses 6.13 Pct Stake In Drax Group- Filing
Wednesday, 22 Aug 2018 

Aug 22 (Reuters) - Deutsche Bank AG ::DEUTSCHE BANK AG DISCLOSES 6.13 PERCENT STAKE IN DRAX GROUP PLC - FILING.  Full Article

Drax Signs 40 Mln Stg Contract With Siemens For Turbine Upgrades
Tuesday, 31 Jul 2018 

July 31 (Reuters) - Drax Group PLC ::DRAX GROUP PLC - DRAX SIGNS £40 MILLION CONTRACT WITH SIEMENS FOR TURBINE UPGRADES.DRAX GROUP PLC - WORK ON TURBINE UPGRADES, WHICH STARTS IN 2019, WILL TAKE 3 YEARS TO COMPLETE, WITH 1 BIOMASS UNIT BEING UPGRADED EACH YEAR.  Full Article

Woodford Investment Management Cuts Stake In Drax To Less Than 5 Pct From 9.89 Pct- Filing
Monday, 30 Jul 2018 

July 30 (Reuters) - Drax Group PLC ::WOODFORD INVESTMENT MANAGEMENT CUTS STAKE IN DRAX PLC TO LESS THAN 5 PERCENT FROM 9.89 PERCENT- FILING.  Full Article

Drax Group Says FY expectations unchanged, H1 hit by two unplanned outages
Tuesday, 24 Jul 2018 

July 24 (Reuters) - Drax Group PLC ::INTERIM DIVIDEND 5.6 PENCEPER SHARE.H1 EBITDA 102 MILLION STG.H1 UNDERLYING EARNINGS OF 7 MILLION STG VERSUS. 9 MILLION STG.H1 DIVIDEND OF 5.6 PENCE PER SHARE.EXPECTED 2018 FULL YEAR DIVIDEND OF £56 MILLION.H1 LOSS BEFORE TAX OF 11 MILLION STG VERSUS. LOSS OF 104 MILLION STG.FULL YEAR FINANCIAL EXPECTATIONS UNCHANGED.COAL-TO-GAS REPOWERING - DETAILED PLANNING APPLICATION ACCEPTED FOR REVIEW JUNE 2018.FULL YEAR EBITDA EXPECTATIONS REMAIN UNCHANGED- CEO.H1 CAPITAL INVESTMENT OF £46 MILLION, FULL YEAR INVESTMENT EXPECTATION UNCHANGED AT £100-£110 MILLION.H1 NET DEBT OF £366 MILLION (31 DEC 2017: £367 MILLION), INCLUDING CASH ON HAND OF £245 MILLION.  Full Article

Drax Group Commences 50 Mln Pounds Share Buy-Back Programme
Friday, 20 Apr 2018 

April 20 (Reuters) - Drax Group PLC ::SAYS COMMENCING A £50 MILLION SHARE BUY-BACK PROGRAMME OF COMPANY'S SHARES.  Full Article

Drax Says Plans To Complete 4th Biomass Unit in Second Half 2018
Wednesday, 17 Jan 2018 

Jan 17 (Reuters) - Drax Group Plc ::DRAX - ‍WELCOMES UK GOVERNMENT RESPONSE TO CONSULTATION ON COST CONTROL FOR FURTHER BIOMASS CONVERSIONS​.DRAX-UK GOVERNMENT ‍RESPONSE PROPOSES RATHER THAN IMPOSING CAP ON ROC SUPPORT FOR FUTURE BIOMASS UNIT CONVERSIONS, CAP WOULD BE APPLIED AT POWER STATION LEVEL.DRAX GROUP PLC - ‍PLANS TO COMPLETE WORK ON 4TH BIOMASS UNIT AS PART OF PLANNED OUTAGE IN SECOND HALF OF 2018, BEFORE RETURNING TO SERVICE IN LATE 2018​.DRAX- CONTINUE WORK TO DELIVER LOW COST CONVERSION OF FOURTH BIOMASS UNIT, ACCELERATING REMOVAL OF COAL-FIRED GENERATION FROM UK ELECTRICITY SYSTEM​.DRAX GROUP PLC - ‍UNIT TO LIKELY OPERATE WITH LOWER AVAILABILITY THAN 3 EXISTING CONVERTED UNITS; INTENTION FOR IT TO RUN AT PERIODS OF HIGHER DEMAND.  Full Article

Drax Group Says Biomass Deliveries Currently Restricted Due To ‍Biomass Outage
Wednesday, 20 Dec 2017 

Dec 20 (Reuters) - Drax Group Plc ::BIOMASS OUTAGE AT DRAX POWER STATION​.‍FOLLOWING UNPLANNED OUTAGE ON RAIL UNLOADING FACILITIES AT DRAX POWER STATION, BIOMASS DELIVERIES ARE CURRENTLY RESTRICTED.‍IN ORDER TO OPTIMISE AVAILABLE SUPPLIES, GENERATION ON TWO ROC (1) UNITS HAS BEEN REDUCED​.‍TWO UNITS WILL THEN BE TAKEN OFFLINE FOR A SHORT PERIOD; CFD (2) UNIT AND COAL OPERATIONS REMAIN UNAFFECTED.​.‍OUTAGE ON RAIL UNLOADING FACILITIES IS EXPECTED TO BE COMPLETED DURING JAN 2018, AT WHICH POINT ROC UNITS SHOULD RETURN TO SERVICE​.‍REFLECTING OUTAGE AND REDUCED GENERATION ON ROC (1) UNITS, DRAX CURRENTLY EXPECTS A REDUCTION IN EBITDA (3) OF £10 MILLION IN 2017​.  Full Article

Drax Group Says Full-Year Expectations Remain Unchanged
Tuesday, 12 Dec 2017 

Dec 12 (Reuters) - Drax Group Plc ::‍SINCE ITS HALF YEAR RESULTS, TRADING CONDITIONS IN MARKETS IN WHICH DRAX OPERATES HAVE REMAINED IN LINE WITH EXPECTATIONS​.‍RETAIL OPERATIONS SINCE HY RESULTS REMAIN IN LINE WITH EXPECTATIONS​.‍EXPECTATIONS REMAIN UNCHANGED​.‍CONTINUES TO DEVELOP OPTIONS FOR 1.2GW OF NEW OPEN CYCLE GAS TURBINE (OCGT) CAPACITY​.‍FIRST TWO PROJECTS - PROGRESS POWER AND HIRWAUN POWER - WILL PARTICIPATE IN NEXT CAPACITY MARKET AUCTION IN FEBRUARY 2018​.‍NEGOTIATIONS FOR ENGINEERING AND CONSTRUCTION CONTRACTS ARE PROGRESSING WELL​.  Full Article

Drax Group appoints Den Jones as interim CFO
Friday, 27 Oct 2017 

Oct 27 (Reuters) - Drax Group Plc ::DRAX GROUP PLC - APPOINTMENT OF INTERIM CHIEF FINANCIAL OFFICER.‍DEN JONES HAS BEEN APPOINTED AS INTERIM CFO OF GROUP FROM 1 NOVEMBER 2017 AND WILL WORK WITH WILL GARDINER TO ENSURE A SMOOTH TRANSITION​.  Full Article

Drax Group updates on ‍sale of Billington Bioenergy​
Wednesday, 25 Oct 2017 

Oct 25 (Reuters) - Drax Group Plc :‍SALE OF BILLINGTON BIOENERGY​.‍SALE TO AGGREGATED MICRO POWER HOLDINGS 2 AND DEAL VALUE IS 2 MILLION STG, COMPRISED OF 1.6 MILLION STG OF SHARES IN AMPH AND 0.4 MILLION STG CASH​.‍SALE OF BBE IS ALIGNED WITH DRAX'S RETAIL STRATEGY, FOCUSED ON I&C 3 AND SME 4 ENERGY MARKETS​.‍THROUGH ITS SHAREHOLDING IN AMPH, DRAX WILL RETAIN AN INTEREST IN UK HEATING MARKET.  Full Article

Photo

Drax Group says in talks to buy power assets from Iberdrola

LONDON Britain's Drax group said on Saturday it was in discussions with Spain's Iberdrola about the potential acquisition of a UK portfolio of pumped storage, renewable hydro and gas-fired generation assets.