July 29 British power producer Drax Group Plc
reported a 15 percent fall in first-half earnings, hurt
by increasing cost of UK carbon tax.
Drax, the operator of one of Europe's largest coal-fired
power stations, said earnings before interest, tax,
depreciation, and amortisation (EBITDA) fell to 102 million
pounds ($173 million) for the six months ended June 30, from 120
million pounds a year ago.
However, the company stood by its outlook for the full year.
($1 = 0.5892 British Pounds)
(Reporting by Susanna Twidale and Abhiram Nandakumar in
Bangalore; Editing by Gopakumar Warrier)