TheStar.com: Eurotunnel reports first annual profit

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Groupe Eurotunnel SA, which runs the rail tunnel linking England and France, has reported the company's first annual profit. Net income at the long-struggling company was one million euros ($1.57 million U.S.) in 2007, excluding an exceptional gain of 3.3 billion euros from a restructuring agreement agreed upon last June. The deal halved Eurotunnel's debt and saved the operator from bankruptcy. In 2006, Eurotunnel reported a loss of 204 million euros. The company said increased cross-channel traffic boosted revenues last year by 6 per cent to 775 million euros.