drax group plc said thursday that pretax profit fell for 2022 after booking a loss on derivative contracts and that it expects inflation to remain a headwind in 2023 the uk electricitygeneration company said pretax profit was 781 million pounds 941 million compared with a profit of gbp1215 million for 2021 the company said it booked a gbp298 million marktomarket loss on derivative contractscompared with a gbp49 million gain the year beforeand gbp25 million of exceptional costs in the period compared with gbp22 million in 2021 drax said this reflected adverse movements in the valuation of gas and inflation contracts a derivative contract is a financial contract whose value is linked to the value of an underlying asset adjusted pretax profita metric that strips out exceptional and other oneoff itemswas gbp4054 million compared with gbp1005 million the year before revenue rose to gbp778 billion from gbp509 billion the year prior the board proposed a final dividend of 126 pence a share up from 113 pence in 2021 taking the total for the year to 210 pence a 12 rise drax is a growing international business with strong cash returns which we are reinvesting to produce more renewable energy and deliver carbon removals while reducing our own carbon emissions chief executive will gardiner said