EUROTUNNEL SEES LIGHT

Eurotunnel made annual profits of £1.27million in 2009, down from £31million previously following a blaze in September 2008, which limited use of the tunnel until repairs were finished in February 2009.

Revenue fell 16 per cent to £517million as the recession slashed demand for its lorry shuttle services by 39 per cent. The firm also suffered from disruption to Eurostar trains, owned by a separate company, following breakdowns in the December snow. About 40,000 passengers were affected.

Chief executive Jacques Gounon said the results proved the company was in good shape to benefit from an economic recovery, although it was unlikely to happen yet. “We don’t see any sign of such a recovery in the first half of this year,” he said.

Eurotunnel said the results would have been better had it not been for an as yet unresolved insurance wrangle following the fire.