Drax sees FY at top end of estimates

(Sharecast News) - UK power company Drax said 2025 adjusted core profit would be at the top end of analyst consensus estimates, driven by strong pellet production and biomass generation. Drax reaffirmed its target of recurring adjusted core earnings of around £600m - £700m beyond 2027.

"We are working to create value and growth in the short, medium and long-term, aligned to the UK's energy needs," said chief executive Will Gardiner in a trading statement on Thursday.

Consensus estimates for 2025 adjusted earnings before interest, taxes, depreciation and amortisation was £874m in a range of £848m - £896m, according to a company-compiled poll.

Reporting by Frank Prenesti for Sharecast.com