AN INCREASE of almost 500 per cent in first-half losses show that Eurotunnel’s new board of directors are finding it hard to turn the struggling business around.

The Channel Tunnel operator has published its interim results to June 30 and net losses have risen to £82m from £17m at the same time last year.

Chief executive Jean-Louis Raymond argued the results were not the fault of the current board, but did concede they are “worrying”.

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