LONDON--Drax Group PLC (DRX.LN) Friday said it agreed terms with electricity and gas company National Grid PLC (NG.LN) for a twelve month contract to provide certain support services, starting in April.

The group said following the contract, and also due to "recent weakness" in commodity markets, it now expects earnings before interest, taxes, depreciation and amortization at the top end of the range of current market forecasts.

Drax shares closed Thursday at 272 pence.

 
--Write to Simon Zekaria at simon.zekaria@wsj.com

(END) Dow Jones Newswires

April 01, 2016 02:39 ET (06:39 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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