Eurostar moves into profit n


Channel Tunnel operator Eurostar made a profit for the first time ever in 2011, its year end accounts reveal.


Its unaudited net profit was £20.8m in


its first year operating as a single company – previously Eurostar was three separate companies, owned by Britain, France and Belgium. Revenue was up six per cent to £803m, with


passenger numbers two per cent higher at 9.7 million over the year. Nicolas Petrovic, CEO of Eurostar, said:


‘Eurostar continues to make good progress against a difficult economic backdrop and ongoing uncertainty across Europe. ‘Over the last year, we have invested in


upgrading our service and product and this has resulted in strong growth in sales revenues and passenger numbers. Having completed our first financial year as a standalone business, and delivered a strong performance, we are now well positioned to build on this momentum.’ Any dividends from 2011 would be shared


between the British state and the Belgian and French national networks, SNCF and SNCB.


Eurotunnel says debts are behind it n


Eurotunnel has reported net profits of £9.1m for 2011,


against loses of £48.3m for 2010, with a 16 per cent increase in revenue. ‘Debt is no longer an


issue,’ executive chairman Jacques Gounon told a March press conference, adding that Eurotunnel was expecting to see its credit rating upgraded. Europorte, of which GB Railfreight is now a subsidiary, saw revenues of £131.7m, employing 100 additional drivers in France and purchasing 27 of


its own locomotives. Eurotunnel, which owns the Channel Tunnel, is planning to run faster car shuttle services during the Olympics to increase capacity. The Jubilee weekend in June


is also expected to see bumper bookings, with double the number of passport booths to be open to cut queues. Eurotunnel has also signed


a deal with Alcatel-Lucent to introduce new technology that will allow mobile phones to work in the tunnel from July, using 3G mobile broadband.


Electrification plan will prompt recruitment drive


n


Amey is expecting to see 150 rail workers recruited to


work on the electrification of the Great Western Main Line between Maidenhead and Cardiff. Most of the new staff will be employed directly by Amey, but some will work for its suppliers. The company, which has a


contract with Network Rail to operate, maintain and deliver the electrification work, will use high output machinery brought in from Germany. Robbie Burns, Network Rail’s


regional director for Western and Wales, said: ‘The electrification programme is one of the most


important projects for Network Rail over the next five years. ‘It’s going to be critical to revitalising the railway across this part of the country and we’re giving all our effort to ensuring that it happens smoothly with the minimum of disruption to the existing services.’


‘The electrification programme is one of the most important projects for Network Rail over the next five years’


Passenger numbers increase for Go-Ahead


Go-Ahead says its rail division will contribute to Treasury coffers from April after seeing growth in all three of its commuter franchises, which it runs in a joint venture with Keolis. Its London Midland operation


has been eligible to receive revenue support since November, but


Go-Ahead says this has not been required as passenger revenue rose by 13 per cent in the six months to December. Although the Southeastern


franchise remains in revenue support, the rail division will be a net contributor to the Department


for Transport from April. It reported a 25 per cent increase in profits to £16.5m. Passenger revenue rose overall by 9.6 per cent to £699.8m, which Go-Ahead says reflected better marketing and a continuing shift away from car usage.


Passenger numbers grew by


three per cent on Southern and Souteastern, but shot up by 11.5 per cent on London Midland. Go-Ahead says it will bid


with Keolis for the forthcoming Thameslink and Essex Thameside franchises.


APRIL 2012 PAGE 13


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