Channel Tunnel has best year with £171m profit
The boss of Channel Tunnel owner Eurotunnel has cheered its "best year" ever as the group shrugged off Brexit fears and the impact of terrorist attacks to post a surge in profits.
Eurotunnel said impressive growth in car and truck shuttle traffic helped offset a 4% drop in passengers on the high-speed Eurostar rail, which it said was "badly affected" by the recent terrorist attacks in Paris, Brussels and Nice.
The group saw net consolidated profit nearly triple to €200m (£171m) last year, from €75m (£64m) in 2015, as it recovered from a tough 2015 and early 2016, when services were disrupted by the Calais migrant crisis. Underlying earnings rose 7% to €514m (£438m).
The group's trading cheer confirms that last summer's worries in the immediate aftermath of the Brexit vote were overdone.
Eurotunnel warned last July that the Brexit-hit pound would impact earnings in 2016 and 2017.