By Lydia Wilson
EUROTUNNEL has reported an operating profit of £87 million
for the first half of the year, down 3% on the same period last year.
Car shuttle traffic fell by 9% in the first six months of
2001, a trend the company blames on the impact of foot and mouth disease and
unusually bad weather conditions on both sides of the Channel.
Coach traffic was down 3% against a market which was down 8%
on the same period last year, according to Eurotunnel.
Eurotunnel Group joint board chairman Charles Mackay warned
that difficult market conditions could delay its aim of using cash flow to cover
capital interest charges by 2002.
“Eurotunnel has done well to hold its results close to the
level of 2000, despite the difficult environment which has developed over the
past six months,” he said.