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09 Mar 2010
Eurotunnel posts profit amid tough conditions
Eurotunnel, the operator of the Channel Tunnel infrastructure, has posted a net profit of €1.4m (£1.3m) for the year ending 31 December 2009 despite a "poor economic environment".
Reduced capacity caused by the closure of a section of tunnel following a fire in September 2008 and the wintry conditions towards the end of 2009 impacted on the company's fortunes.
Compared with the previous year, net profit declined by 95 per cent from a restated profit of €34m (£31.2m) and revenue dropped by 16 per cent to €571m (£518.3m).
Jacques Gounon, chair and chief executive of Eurotunnel Group, said: "The results for 2009 are proof of Eurotunnel's resilience in the face of difficulties. Our group has remained profitable in an unfavourable economic context.
"This performance shows that the group is in good shape to benefit from the economic recovery, as soon as it begins. The payment of a dividend is a demonstration of our confidence and determination for 2010."
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