Drax (DRX) has announced that its 2020 adjusted cash profits (Ebitda) are set to be in line with consensus expectations of £398m. This is despite an estimated £60m hit from the Covid-19 pandemic.
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The disruption largely relates to its "customers" business which focuses on the industrial and commercial, and small- and medium-sized enterprises (SMEs) markets. The division is expected to be lossmaking this year based on lower power demand and a potential increase in bad debt from SMEs.