|Bid||736.00 x 0|
|Ask||737.50 x 0|
|Day's range||735.00 - 788.00|
|52-week range||401.80 - 845.89|
|Beta (5Y monthly)||1.11|
|PE ratio (TTM)||14.43|
|Earnings date||26 Jul 2022|
|Forward dividend & yield||0.20 (2.53%)|
|Ex-dividend date||25 Aug 2022|
|1y target est||927.33|
Drax Group plc ( LON:DRX ) shareholders will have a reason to smile today, with the analysts making substantial...
LONDON (Reuters) -Drax Group reported a rise in half-year profit on Tuesday, as the British power generator benefited from high electricity prices and strong demand for renewable power amid surging gas prices across Europe. British electricity prices have soared over the past year, pushed higher by record high gas prices following Russia's invasion of Ukraine which has led to concerns over Europe's gas supply. Drax has converted four coal-power units to use sustainable biomass and said its remaining two coal units would be available for use from October to March next year as part of Britain’s contingency plans to make sure of secure electricity supplies this winter.
British power generator Drax Group Plc said on Thursday it will expand its operations into Japan to ramp up its supply of sustainable biomass pellets in Asia. Drax said it aims to increase its wood pellet production capacity from 5 million tonnes a year currently to 8 million tonnes a year by 2030, targeting European and Asian markets. “Drax’s unrivalled expertise across the entire biomass value chain ... can support Japan’s climate targets, accelerating the move away from coal and enabling investment in clean energy technologies," Drax Group’s Managing Director for Asia, Yasuhisa Okamoto said.