Interim Management Statement

RNS Number : 7420U

Drax Group PLC

19 May 2008

 



19 May 2008

Drax Group plc

('Drax' or the 'Company')

Symbol:DRX

Interim Management Statement

Drax today publishes its interim management statement for the period from 1 January 2008 to date.

Trading conditions in the commodity markets in which we operate have improved in the year to date and we are pleased to report that our current expectations for the full year are now modestly higher than our expectations at the time of our preliminary results announcement on 4 March 2008.  This is primarily a consequence of improvements in dark green spreads. Our expectations for the year are based on our current contracted position as well as prevailing conditions in the commodity markets. 

Other than the contract for construction of a biomass processing facility with Alstom Power Limited, which is the subject of a separate contemporaneous announcement, there have been no material events or transactions, nor any material change in the underlying financial position of the group during the period.

Drax will issue a pre close statement on 30 June 2008 in which it will update the market on the contracted positions for 2008, 2009 and 2010.

Enquiries:

Chief Executive: Dorothy Thompson

Finance Director: Gordon Boyd

[phone]

Drax Investor Relations: 

[phone]: Andrew Jones

[phone]: Andrew Koss

Media:

Drax External Relations: Melanie Wedgbury

[phone]

Tulchan Communications

David Trenchard and Peter Hewer

[phone]

Website: www.draxgroup.plc.uk

END

 

END

 

 

IMSFKCKNFBKKKPD