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Drax shares fall after profits take hit from green scheme loss

Drax shares fall after profits take hit from green scheme loss


Drax shares fall after profits take hit from green scheme lossInvestors flocked to disconnect from Drax on Thursday as annual profits, the dividend and shares at the FTSE 250 power giant sank in the wake of tax changes. The cuts revealed just how speedily Britain's biggest power station has to move on from coal. Underlying pre-tax profits tumbled from £46 million to £21 million as the government removed the climate-change levy exemption for renewably sourced electricity.


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