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Weak pound boosts traffic through Channel Tunnel
08:00, 19 October 2017
updated: 10:23, 19 October 2017
Growth in international passengers taking advantage of good exchange rates has helped boost traffic and sales through the Channel Tunnel.
Eurotunnel has revealed third quarter revenues grew by 3% to €286.4 million (£256.9m) a week after it announced record freight traffic for September.
Chairman and chief executive Jacques Gounon said he remains “confident for the full year” as the group’s strategy to focus on the “high contribution” freight and passenger services markets paid off.
It comes two days after train operator Eurostar revealed passenger numbers increased 4% over the same period, giving it a 15% boost in sales to £211 million.
The company said growth has been propelled by a significant increase in the number of passengers from markets outside Europe, particularly the US.
Traffic from the US and overseas markets has grown by 24% and 18% year-on-year respectively as travellers take advantage of the weaker value of the pound since the EU referendum last year.
Eurostar chief executive Nicolas Petrovic said: “The growth we reported in the first half of the year has gathered pace over the summer and we are seeing a big influx of US and overseas traffic.
"The growth we reported in the first half of the year has gathered pace over the summer and we are seeing a big influx of US and overseas traffic..." - Nicolas Petrovic, Eurostar
“With the favourable exchange rates and the many attractions of our destinations, this trend looks set to continue so the outlook for the rest of the year is strong.”
At Eurotunnel, shuttle revenues increased by 4% to €179.3 million (£160.9m).
Passenger vehicle traffic in September increased by 9% compared to the same month in 2016.
It also transported a record 138,774 trucks in September, up 2% on the previous year.
Its rail freight subsidiary Europorte increased revenues by 3% as traffic grew 6%.
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