Bruce Barnard, Special Correspondent | Apr 18, 2012 10:16AM EDT
Groupe Eurotunnel’s revenue grew 21 percent in the first quarter to $292 million, driven by a surge truck shuttles through its undersea rail tunnel between the U.K. and France.
The collapse of the cross-Channel ferry operator SeaFrance also helped boost traffic and revenue, the Paris-based company said.
“Eurotunnel benefited from the transfer of some traffic from SeaFrance which ceased operations in November 2011, but proportionately less than the other cross-Channel operators who put significant extra capacity into service.”
Truck shuttles soared 21 percent to 364,724 from 301,074 in the first three months of 2011, due partly to higher-than-forecast express deliveries in a market that grew by an estimated two to three percent. Rail freight volume rose two percent to 313,056 tons.
Eurotunnel’s rail freight unit, Europorte, grew revenue by 38 percent to $66.8 million from $48.2 million a year ago.
Contact Bruce Barnard at brucebarnard47@hotmail.com.
