UK's Drax sees 2016 earnings at lower end of forecast range

British power producer Drax said its full-year earnings for 2016 would likely be at the lower end of analysts' forecasts, after posting a 42 percent drop for the first half of the year. Earnings before interest, taxes, depreciation and amortization (EBITDA) were 70 million pounds ($92 million) in the first half of 2016, down from 120 million over the same period the year before.