Eurotunnel sets record as it shakes off snow effect
Eurotunnel brushed off the snowy start to the year and the lack-of-Olympics factor to post an 8% rise in revenues to €238.3 million (£203 million) for the first three months of the year.
Jacques Gounon, chairman and chief executive of the company that runs car and freight shuttles under the Channel, said the start of the year had been “marked by a severe winter which disrupted both road and rail traffic on several occasions... a difficult economic climate and the absence of the positive leverage brought by the London 2012 Olympic Games.”
But a boost from freight helped push revenues higher. Eurotunnel also saw a record number of vehicles board its shuttles in the quarter. Some 10,600 cars and 131 coaches travelled by Shuttle from Folkestone to Coquelles on Good Friday alone — the most traffic in one day since the opening of the Channel Tunnel.
Eurotunnel is currently battling a Competition Commission ruling that it should sell ferries business MyFerryLink, which it bought for €65 million from collapsed operator SeaFrance.
During the quarter, the ferry business bought in revenues of €11.2 million.
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