The group published its half-year results showing a strong top-line as revenues increased by 21% to £1,800m and EBITDA rose 70% yoy to £120.8m, which was within expectations. However, higher depreciation expenses, losses on derivative contracts and a doubling of interest expenses have pushed the group to a net loss of £-16.8m. On an adjusted basis, net income fell by 47.3% to £8.9m, translating into an EPS of 2.2p/share which is below expectations. The group maintained
19 Jul 2017
Net income in the red in the first half
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Net income in the red in the first half
Drax Group plc (DRX:LON) | 500 0 0.0% | Mkt Cap: 1,924m
- Published:
19 Jul 2017 -
Author:
Juan Camilo Rodriguez -
Pages:
3
The group published its half-year results showing a strong top-line as revenues increased by 21% to £1,800m and EBITDA rose 70% yoy to £120.8m, which was within expectations. However, higher depreciation expenses, losses on derivative contracts and a doubling of interest expenses have pushed the group to a net loss of £-16.8m. On an adjusted basis, net income fell by 47.3% to £8.9m, translating into an EPS of 2.2p/share which is below expectations. The group maintained