Network Rail today unveiled its preliminary results for the year to 31 March 2009, a year in which the company claims it delivered record levels of investment and train punctuality.
Financial highlights include a £200m increase in turnover to £6.16bn compared to the previous year, and a drop of £82m in operating costs to £2.5bn.
Network Rail also stated today that investment is at a record high, totalling £4.7bn, up from £4bn.
Train punctuality reached 90.6 per cent over the 12 months of 2008/9, marking the first time in the history of Britain’s railways that the benchmark of 90 per cent of trains on time has been reached over the course of a year.
Chief executive Iain Coucher said: ‘Network Rail has delivered a good set of results, meeting or exceeding almost all its targets, and those set by the Office of Rail Regulation (ORR).
‘Train performance is at an all-time high, the railways have never been safer to travel on, millions of pounds are being saved from the cost of running the network and billions invested to make further improvements.
‘Our strong focus on innovation and investment to improve our operations and reduce operating costs is driving our performance.
‘Network Rail has had a good year overall and there is always room for improvement.
‘I am acutely aware that customers expect and deserve an ever-improving rail service.
‘Over the next five years our service will improve again, as we embark upon an ambitious £35bn programme of work to deliver even higher levels of performance, reduce overcrowding and expand and grow the rail network.
‘My vision is for a high-performing railway, easy and affordable to access and comparable with the very best railways in the world.’