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Eurotunnel reports profit jump, sees end of bad times

Eurotunnel, which operates the undersea tunnel between France and England, reported on Thursday that it tripled net profit last year. And for the first time the company, which has been through some bad times since it began operations 20 years ago this year, set targets for gross operating profit, giving estimates for this year and next. Net profit last year totalled 101 million euros (84.6 million pounds, $141 million) from 32 million euros in 2012.

Eurotunnel reports profit jump, sees end of bad times

Eurotunnel, which operates the undersea tunnel between France and England, reported on Thursday that it tripled net profit last year. And for the first time the company, which has been through some bad times since it began operations 20 years ago this year, set targets for gross operating profit for the first time, giving estimates for this year and next. Net profit last year totalled 101 million euros (84.6 million pounds, $141 million) from 32 million euros in 2012.

19 workers suffer carbon monoxide poisoning in Channel tunnel

Nineteen workers suffered carbon monoxide poisoning while working overnight in the Channel tunnel, with one of them seriously affected, French officials said Sunday. Sixty people, including workers from a company commissioned by Eurotunnel and Eurotunnel employees, were in the process of changing rails on the line between the towns of Calais in France and Folkestone in Britain when a welder took ill overnight Saturday, said officials from France's Pas-de-Calais department.

Eurotunnel breaks through billion euro barrier

Channel Tunnel operator Eurotunnel achieved one billion euros in turnover in 2013 for the first time, the company said on Wednesday. That was an increase of 10.0 percent from the 2012 figure to 1.09 billion euros ($1.48 billion). The main reason for the growth in traffic was performance by rail freight operator Europorte, which turned in a year-on-year increase of 13.8 percent. High-speed train traffic through the tunnel increased also, by 1.3 percent. The tunnel runs beneath the sea between northern France and southern England. jul/bpi/dh/hd

Eurotunnel tourist traffic reaches record high

Eurotunnel on Tuesday said vehicle shuttle traffic under the English Channel reached a new record-high at the weekend, with almost 16,000 vehicles carried by the shuttle service in one single day. On August 17, it said an "unprecedented" traffic volume of 15,982 cars, trailers, motorcycles, caravans and camper vans were carried under the Channel on 151 departures of its Le Shuttle service. The company said it was "the heaviest traffic ever seen in one day since Le Shuttle opened for commercial service in 1994".

Eurotunnel seeks probe into news of EU ruling

Channel tunnel operator Eurotunnel is to ask market watchdogs to probe how a European Commission ruling on its tariffs was announced, the firm announced on Monday saying the company's market value had been cut by 500 million euros. On Thursday the European Commission told Eurotunnel, which operates the undersea tunnel between France and England, to cut its charges for passenger and freight trains using the route. The Commission argued that the charges were too high and were discouraging the development of rail traffic and particularly the movement of freight.

Eurotunnel seeks probe into news of EU ruling

Channel tunnel operator Eurotunnel is to ask market watchdogs to probe how a European Commission ruling on its tariffs was announced, the firm announced on Tuesday saying the company's market value had been cut by 500 million euros. On Thursday the European Commission told Eurotunnel, which operates the undersea tunnel between France and England, to cut its charges for passenger and freight trains using the route. The Commission argued that the charges were too high and were discouraging the development of rail traffic and particularly the movement of freight.

EU warns Britain and France on Channel tunnel charges

The European Union on Thursday told Britain and France to act to bring down charges for trains running through the under-sea Channel tunnel, saying passengers and freight operators were paying too much. London and Paris were given two months to respond to the "formal request" by the European Commission, the executive arm of the 27-nation bloc, or face being brought before the European court. Shares in Eurotunnel -- the private company which has operated the tunnel since it opened to rail traffic in 1994 -- fell by 12.3 percent to close at 5.49 euros.

Eurotunnel shares fall after EU attacks rail charges

Shares in Eurotunnel which operates the under-sea tunnel between France and England fell by 4.47 percent on Thursday after the European Commission pressed for a cut in prices charged to run trains on the route. On Thursday, the EU Commission told France and Britain to take action to bring down the charges paid for trains to run through the tunnel. The Commission held that the prices charged were too high and restricted the development of rail traffic and particularly the movement of rail freight.

EU tells UK, France to cut Channel tunnel charges

The EU told Britain and France on Thursday to act to bring down charges for trains running through the under-sea Channel tunnel, saying both passengers and freight operators were paying too much. Shares in Eurotunnel, the private company which operates the tunnel, fell by 4.47 percent to 5.98 euros after the announcement by the European Commission, the executive arm of the 27-nation bloc. The commission gave London and Paris two months to respond to its "formal request" to take action on the high charges, or face having the issue brought before the European court.
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