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UK's Drax sees 2016 earnings at lower end of forecast range

Reuters - UK Focus

LONDON, July 26 (Reuters) - British power producer Drax said its full-year earnings for 2016 would likely be at the lower end of analysts' forecasts, after posting a 42 percent drop for the first half of the year.

Earnings before interest, taxes, depreciation and amortization (EBITDA) were 70 million pounds ($92 million) in the first half of 2016, down from 120 million over the same period the year before.

Analysts forecast EBITDA at 146-185 million pounds for 2016.

($1 = 0.7629 pounds) (Reporting by Susanna Twidale; Editing by Mark Potter)