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Eurostar suffers fall in business traffic
Eurostar managed to grow passenger numbers and sales revenue last year, despite a drop in business traffic.
The rail operator reported a preliminary, unaudited net profit of £20.8 million in its first full year of operation as a standalone company since the business changed from a partnership of three railways to a single orporate entity last September.
Total sales revenue grew by 6% to £803 million, with particularly strong growth in the second half of the year.
On a like for like basis, after adjusting the 2010 results for the volcanic ash cloud impact, sales revenues have grown by 10% and showed positive growth in each quarter throughout 2011.
Total passenger numbers for the year ending 31 December rose 2% to 9.7 million.
Leisure travellers grew by 2% year on year with particularly strong growth in the fourth quarter, which was 4% higher than in 2010.
But the number of business travellers fell 3%, and by 5% in the fourth quarter.
Eurostar blamed the fall on the deteriorating economic environment and the Eurozone debt crisis.
Chief executive Nicolas Petrovic 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."’¨
by Bev Fearis
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Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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