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United Kingdom

Drax Group PLC (DRX.L)

DRX.L on London Stock Exchange

313.80GBp
4:39pm BST
Change (% chg)

-3.40 (-1.07%)
Prev Close
317.20
Open
317.20
Day's High
317.20
Day's Low
309.60
Volume
640,694
Avg. Vol
1,179,528
52-wk High
432.69
52-wk Low
309.60

Latest Key Developments (Source: Significant Developments)

Drax Group Says FY Group Adj. Core Earnings 250 Mln Stg
Tuesday, 26 Feb 2019 

Feb 26 (Reuters) - Drax Group PLC ::CONTINUE TO EXPECT CAPACITY MARKET TO BE REINSTATED ON SAME OR SIMILAR BASIS.FY GROUP ADJUSTED EBITDA UP 9% TO £250 MILLION.DRAX GROUP PLC SAYS FY DIVIDEND GROWTH OF 15 PERCENT INCREASE IN DIVIDEND PER SHARE OF 14.1 PENCE PER SHARE.DRAX GROUP PLC SAYS ADJUSTED PROFIT AFTER TAX INCREASED TO £42 MILLION IN 2018 FROM £3 MILLION IN 2017.DRAX GROUP PLC SAYS FY REVENUE £4,237.3 MILLION VERSUS. £3,685.2 MILLION.FY PELLET PRODUCTION INCREASED 64 PERCENT TO 1.351 MILLION TONNES.DRAX GROUP PLC SAYS FY ELECTRICITY OUTPUT (NET SALES) DOWN 8 PERCENT TO 18.3TWH (2017: 20.0TWH).GROUP ASSUMES £68 MILLION OF CAPACITY PAYMENT REVENUES IN 2019.  Full Article

Drax Completes Acquisition Of Scottish Power Portfolio
Wednesday, 2 Jan 2019 

Jan 2 (Reuters) - Drax Group PLC ::COMPLETED ACQUISITION OF SCOTTISH POWER PORTFOLIO.HAS COMPLETED ACQUISITION OF SCOTTISH POWER'S PORTFOLIO OF PUMPED STORAGE, HYDRO AND GAS-FIRED GENERATION.  Full Article

Drax Group Names Andy Skelton As Chief Financial Officer
Thursday, 25 Oct 2018 

Oct 25 (Reuters) - Drax Group PLC ::ANDY SKELTON HAS BEEN APPOINTED AS CHIEF FINANCIAL OFFICER.SKELTON WILL SUCCEED DEN JONES, INTERIM CFO.SKELTON APPOINTMENT WILL TAKE EFFECT ON 2 JANUARY 2019.DEN JONES WILL REMAIN WITH COMPANY UNTIL JUNE 2019.  Full Article

Drax confirms in talks to buy power assets from Iberdrola
Monday, 24 Sep 2018 

Sept 24 (Reuters) - Drax Group PLC ::POSSIBLE ACQUISITION.CONFIRMS THAT IT IS IN DISCUSSIONS WITH IBERDROLA.DISCUSSIONS ARE PRELIMINARY IN NATURE.THERE CAN BE NO CERTAINTY OF ANY AGREEMENT OR TIMING OR TERMS OF ANY SUCH AGREEMENT.ANY POTENTIAL ACQUISITION WOULD BE FULLY DEBT FUNDED AND SUBJECT TO SHAREHOLDER APPROVAL.  Full Article

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

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Investors slap discount on UK utilities amid election worries

LONDON British utility stocks are trading at a growing discount to euro zone peers as investors fear the country's deepening political crisis could trigger a general election that ushers in renationalisation of the industry, worth $76 billion (£59.9 billion).