19th May 2008 10:30
19 May 2008
Drax Group plc
("Drax" or the "Company")
Symbol:DRX
Interim Management Statement
Drax today publishes its interim management statement for the period from 1 January 2008 to date.
Trading conditions in the commodity markets in which we operate have improved in the year to date and we are pleased to report that our current expectations for the full year are now modestly higher than our expectations at the time of our preliminary results announcement on 4 March 2008. This is primarily a consequence of improvements in dark green spreads. Our expectations for the year are based on our current contracted position as well as prevailing conditions in the commodity markets.
Other than the contract for construction of a biomass processing facility with Alstom Power Limited, which is the subject of a separate contemporaneous announcement, there have been no material events or transactions, nor any material change in the underlying financial position of the group during the period.
Drax will issue a pre close statement on 30 June 2008 in which it will update the market on the contracted positions for 2008, 2009 and 2010.
Enquiries:
Chief Executive: Dorothy Thompson
Finance Director: Gordon Boyd
+44 (0) 1757 618 381
Drax Investor Relations:
+44 (0) 1757 612 938: Andrew Jones
+44 (0) 1757 612 333: Andrew Koss
Media:
Drax External Relations: Melanie Wedgbury
+44 (0) 1757 612 438
Tulchan Communications
David Trenchard and Peter Hewer
+44 (0) 20 7353 4200
Website: www.draxgroup.plc.uk
END
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