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Eurotunnel - first profit in 14 years

Eurotunnel is celebrating its first annual profit since the tunnel’s inauguration in 1994...

Eurotunnel is celebrating its first annual profit since the tunnel’s inauguration in 1994, following the publication of the company’s annual report for 2007. “The year of 2007 is the one that proves that the new Groupe Eurotunnel has no need to look back,” commented Eurotunnel CEO Jacques Gounon.

“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 restructuring.”

The company reported a net profit of €1m for 2007, including a €3.3bn exceptional profit from its restructuring operations.

Trading profit was up 22%, gross earnings up 12% and shuttle services revenue up 8%.

The company also reported an exceptional first quarter for 2008, with estimated revenues of €187.6m (+15%) and an 11% rise in passenger shuttle traffic.

“These results and the future value represented by the Channel Tunnel Concession enable us to look forward to 2008 with confidence and determination,” indicated Gounon www.eurotunnel.com

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