British Energy Group, the UK nuclear power producer that is considering takeover offers, said full-year profit fell 28pc because of production shutdowns.

Net income in the year ended March 31 dropped to £335m from £465m a year earlier, the company said today.

Earnings before interest, tax, depreciation, amortization and one-off items were £882m, beating the £792m median estimate of 13 analysts surveyed by Bloomberg News because of higher prices in the fourth quarter.

Plant halts at Hartlepool and Heysham-1, following the discovery of corroded wires, contributed to a 1.8pc decline in nuclear output to 50.3 terawatt-hours. ... Read full article