Eurotunnel performance, 2001

Operating revenue: �548m Passenger shuttles: 2.53m cars Freight shuttles: 1.197m trucks Eurostar: 6.95m passengers Freight trains: 2.45m tonnes

But it said that "significant security measures" taken to keep out asylum seekers had "successfully restored service quality".

The stowaway problem was one of the "particularly difficult external events" to strike last year, the firm said, citing also the outbreak of foot-and-mouth disease and the global economic slowdown.

The number of cars carried on Eurotunnel shuttles fell by 9% to 2.53 million.

But Eurotunnel blamed the fall in operating revenue to �548m in 2001 primarily on a fall in demand, because of the telecoms slump, for use of cables in the tunnel.

The number of lorries carried on shuttles through the Channel Tunnel rose by almost 6% to 1.19 million.

Disruption

Last year Eurotunnel services were disrupted by the efforts of hundreds of asylum seekers who tried to enter the UK illegally through the tunnel.

Many of those attempting to get across came from the Red Cross reception centre at Sangatte, which is two and a half kilometres from the tunnel entrance at Calais.

Eurotunnel spent �6m on security measures last year, and it said the extra measures were working.

"We have made significant progress in three key areas over the last few months by limiting the impact of asylum seekers on our service quality, increasing freight tariffs to a more realistic level, and achieving growth in our core passenger markets," Eurotunnel's chief executive Richard Shirrefs said in a statement.

"The successes of the last few months mean that we are well positioned to compete in 2002."

Fewer passengers, more lorries

While the decline in Eurotunnel's car traffic volumes was worse than the average reported by transport firms on cross-Channel routes, the company noted a rise in use by short break and long-stay holidaymakers, regarded as "high value" customers.

"The resulting improvement in mix led to a 6% increase in average yield," Eurotunnel said.

The number of people using the Eurostar express trains through the tunnel dropped 3% to 6.94 million over the year.

Tonnage on rail freight services dropped by 17%.