Eurotunnel profits up thanks to 'financial restructuring'

Eurotunnel has recorded increased revenues in 2007 for the third year in a row.

The operator of the Channel Tunnel said revenues were up by six per cent to 775 million euros, with Shuttle revenues up by eight per cent to 500 million euros.

Eurotunnel also released figures from the first quarter of 2008 showing a year on year increase in revenue of 15 per cent.

Jacques Gounon, Chairman and Chief Executive of Groupe Eurotunnel, said: “2007 shows that the new Groupe Eurotunnel is nothing like the old. Our Group recorded a pro forma profit of €1 million (excluding the exceptional profit of €3.3 billion).

The results are due to remarkable levels of performance and to strict management of operating costs.

They also benefit from the massive reduction in debt achieved through the financial restructuring.

The excellent level of activity in the first quarter of 2008 confirms our rapid progress.

These results and the future value represented by the Channel Tunnel Concession enable us to look forward to 2008 with confidence and determination.”

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