Eurotunnel makes first ever profit

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For the year to December 2011, Eurotunnel is in the black to the tune of 11 million. While it has recorded profits before on an operational basis, they have always been undercut by exceptional" items or other matters.

Long-suffering shareholders - there are many thousands of private investors in the business - will also be cheered to hear that the dividend
payment is to be doubled. Even at the new higher level it will only be 8 cents a share, however.

The company reckons bookings will soar for both the Queen's Jubilee in June and the London Olympics. Eurotunnel reckons it can manage the "waves" of extra passengers it expects by speeding up shuttle crossing times to 30
minutes - five minutes faster than presently.

To achieve this the shuttles will travel at 100mph, up from 90mph now.

"We are on the front foot," said the company.

Revenues are up 16% to 845 million. The profit this time compares to a loss of e58 million for 2010.

Almost 19 million people and about 17.7 million tonnes of freight crossed the Channel using the tunnel.

Eurotunnel has debts of £3 billion. They are structured in such a way as to be perfectly manageable, the company insists.