Channel Tunnel operator Eurotunnel increased pre-tax profits by €74 million (£63m) last year as revenues tipped over the €1 billion mark (£871m).

Chairman and chief executive Jacques Gounon said “2016 was the best year in our history” as its shuttle transported 2.66 million passenger vehicles and a record 1.64 million trucks.

Eurostar, the train operator which uses the Channel Tunnel, carried more than 10 million passengers in 2016, despite concerns about terrorist attacks in Paris and Brussels, two of its key destinations.

Eurotunnel increased its earnings before interest, taxes and other charges by 7% to €514 million (£438m), resulting in a pre-tax profit of €154 million (£131m) on continuing operations, including a €50 million profit from the revaluation of its shares in ElecLink, a project to build a 1,000MW electricity connector between Britain and France.

Bosses have proposed an 18% increase in its dividend to €0.26 per share.

It comes as the tunnel between Folkestone and Coquelles prepares for the launch of Eurostar services between London and Amsterdam at the end of 2017.

Mr Gounon said: “Our three core businesses each outperformed their sector. Our outlook is very good and we are announcing new improved objectives for 2017 and 2018.”

He said the group will focus on improving the operating profitability of Europorte this year, its European rail freight company.

It completed the sale of its British rail freight subsidiary, GB Railfreight, to EQT Infrastructure II in November.