Eurotunnel hiked trading profit by 40% to £205m last year, but gross debt servicing costs were also 15% higher at £225m.

The Channel Tunnel operator blamed increased servicing costs on high UK inflation.

In a generally encouraging performance against tough economic conditions, it posted £9m net profit compared to a £48m loss in 2010.

"Significant" cash flows enabled it to propose doubling the dividend to 6p. Revenue rose 16% to £709m.

In 2011, almost 19 million people and nearly 18m tonnes of freight crossed the Channel in the Tunnel. The number of Eurostar passengers edged up 2% to 9.7m.

Although the overall cross-Channel truck market grew by 5%, it was still 12% below 2007 levels. However, Eurotunnel Shuttles carried 1.26m trucks - up 16% - and increased its market share to 38%.

Passenger traffic grew, with the number of cars carried up 6% and market share up to 46%

Eurotunnel group chairman and chief executive Jacques Gounon said: "In 2011, the Eurotunnel Group made a clear profit and generated significant cash flows despite the uncertain economic climate.

"The outlook is positive and, as a sign of our confidence in the future, we will ask the shareholders to vote at the AGM for the doubling of the dividend of 0.08 euro for the 2011 financial year."