Eurotunnel triples profits after Olympic boost

Eurotunnel said Thursday it tripled profits in 2012 on a boost in passenger numbers from the London Olympics and the Queen's Jubilee celebrations. The operator of the Channel tunnel rail link between Britain and France announced 2012 net profits of 34 million euros ($44 million), up from 11 million euros a year before. About 20 million people crossed the Chanel last year with the group celebrating its 300 millionth passenger ever in October. The tunnel, which remained an unfulfilled dream for centuries, began carrying passengers in 1994. "Traffic should be slightly less active in 2013 but despite a recessionary environment in both Britain and France, tunnel activity should grow slightly," said Eurotunnel chief executive Jacques Goubon. In January the group said sales rose by 14 percent in 2012 to 993 million euros.