Network Rail's results

Network Rail recently published its interim results for the half year, revealing the best train punctuality for a decade and pre-tax profits of £780m.

Punctuality averaged 91 per cent in the period between April and September which also saw the four per cent rise in pre-tax profits.

‘The company’s performance over the past six months demonstrates the increasing strength and stability of the national railway network,’ said chairman, Ian McAllister. ‘We will maintain a daily focus on the delivery of a safe, reliable and efficient railway, while also looking to the future - growing the capacity of the network and creating an even greener railway for customers.’

In the six month period capital expenditure rose by 16 per cent to £1.7bn, while net debt was reduced by £148m to £18.25bn.

The report also revealed that Network Rail made a 20 per cent efficiency saving over the past two years. This was in response to the Office of Rail Regulation’s target of a 31 per cent reduction in costs over five years, set in March 2004.