'Jubilympics' boost Chunnel firms

The Jubilee and the Olympics have led to bumper profits for Eurotunnel
21 March 2013

Increased traffic due to the Queen's Jubilee and the Olympics helped Channel Tunnel company Eurotunnel to more than triple profits last year.

The company's net profit rose from 11 million euros (about £9.35 million) in 2011 to 34 million euros (about £28.9 million) in 2012, it has been announced.

Almost 20 million passengers and 20 million tonnes of goods used the Channel Tunnel last year.

Also boosted by the "Jubilympics", the tunnel's high-speed train operator, Eurostar, increased passenger numbers by 2% to more than 9.9 million in 2012.

Eurotunnel said: "Eurotunnel Group met the challenge of the Olympic Games in London efficiently, managing the extra flows of traffic travelling to the events at the same time as the major flows of summer holiday traffic. The period saw a series of historical traffic records broken."

The company went on: "Activity remains positive, but as 2012 benefited from some exceptional events, traffic is unlikely to see a repeat of 2012's strong growth, even with the British public taking more and more short breaks on the Continent via Le Shuttle.

"The group remains confident in its capacity to generate sustainable growth and through the development of further growth vectors, to increase its resistance to the vagaries of the economy."

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