Drax Group PLC (LSE: DRX)

Drax Group PLC (LSE: DRX) is an FTSE 250 index listed power generation business.

H1 FY23 Financial Highlights (for the 6 months ended 30 June 2023, released on 27 July 2023)

• Profitability: The adjusted EBITDA went up 101% YoY to £453 million, driven by system support services and dispatchable, renewable generation.
• Interim Dividend: The Company will pay an interim dividend of 9.20 pence per share on 06 October 2023 with an ex dividend date of 24 August 2023.
• Cash Balance: The Company has £586 million of cash and committed facilities at 30 June 2023.
• Strategic Growth Opportunities: DRX has accelerated its progress regarding the development of over 20Mt pa of carbon removals - 14Mt pa by 2030. Moreover, the Company targets 8 Mt pa of pellet production capacity and 4Mt pa of third-party sales by 2030.

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Drax Group PLC (LSE: DRX) was trading at the current market price of GBX 611.60 (as of 27 July 2023, 11:32 AM GMT+1)

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 27 July 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4: Dividend Yield may vary as per the stock price movement.’

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