Pre Close Statement

RNS Number : 8756X

Drax Group PLC

14 December 2010

 



14 December 2010

Drax Group plc

("Drax" or the "Group")

Symbol:DRX

Pre Close Statement

Whilst the commodity markets in which we operate remain challenging, as previously described, we benefit from a strong contracted position. Good operational performance has continued to allow us to take advantage of Drax Power Station's reliability and flexibility to maintain a high load factor and improve profitability. As a result, we now anticipate that full year EBITDA ⁽¹⁾ and underlying earnings per share ⁽²⁾ for 2010 will be slightly ahead of current market consensus.

We indicated in our interim management statement on 9 November 2010 that we will next update the market on the Group's positions under contract on 22 February 2011, when we announce our results for the year ending 31 December 2010.

Since publishing our interim management statement, there have been no material events or transactions, nor any material change in the underlying financial position of the Group.

Notes:

(1)   EBITDA is profit before interest, tax, depreciation, amortisation and loss on disposal of fixed assets and unrealised gains and losses on derivative contracts.

(2)   Underlying earnings per share excludes unrealised gains and losses on derivative contracts and the associated tax effect.

Enquiries:

Drax Investor Relations: Michael Scott

[phone]

Media:

Drax External Affairs: Melanie Wedgbury

[phone]

Brunswick: Michael Harrison

[phone]

Website: www.draxgroup.plc.uk

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