Network Rail announces interim financial results

Britain’s rail operator Network Rail has announced its interim results for the six months to 30 September 2010.

The company reports better-than-planned progress with big capacity-enhancing schemes going well, train punctuality remaining at high levels and cost reductions of almost £200m made in the period, which will hae grown to around £400m of savings by year end.

Financial highlights of the last six months include £299m pre-tax profits, up from £146m for the same period last year; over £1.7bn invested in the railway over the period; net debt increased by 0.6 per cent to £24bn from £23.8bn; and headcount reduced by 1,100.