Passengers and revenues grew at high speed rail service Eurostar last year as the company celebrated its 20th anniversary.

The service – connecting London St Pancras to Europe via Ebbsfleet and Ashford International stations – carried 10.4 million people in 2014, up 3%.

It took the number of passengers who have used Eurostar to more than 150 million since it began operating in 1994.

The increase in customers was partly driven by the UK’s economic recovery, with business travellers increasing by 4%.

This prompted an increase in sales revenues by 1% to £867 million.

Bosses said this would have increased by 4% had it not been impacted by movements in exchange rates during the year.

Its like-for-like operating profit was up 2% to £55 million and the company has invested in a new fleet of seven Siemens-built e320 trains, scheduled to begin service towards the end of this year.

The company is spending £1 billion in its fleet and will be introducing 17 new trains over the next three years, each able to carry 900 passengers, boosting its capacity per train by 20%.

Eurostar chief executive Nicolas Petrovic said: “2014 was a pivotal year for our business as we celebrated our 20th anniversary and unveiled our new fleet.

“Our new e320 trains are now in the final months of testing and on schedule to come into commercial service at the end of this year.

“As we introduce new trains, upgrade our stations and invest in our service, passengers can look forward to a complete transformation of their travel experience.”

The company is launching a new all year-round direct service to the South of France stopping in Lyon, Avignon and Marseille from the beginning of May.

Mr Petrovic added: “Ticket sales for our new South of France service have got off to a cracking start, demonstrating, once again, the enduring popularity of the region and the growing appetite among passengers for choosing high speed rail over plane for travel further into mainland Europe.”