Network Rail published its interim results for the half year to 30 September 2006 on 27 November 2006.  The results show train punctuality for the period averaging 89.5%, more than £1 billion slashed from the costs of running the railway infrastructure at the mid point of the regulatory control period, continued high levels of investment, and a pre-tax profit of £747 million.

Chairman Ian McAllister said: “Rail is a success story.  Train punctuality is at a seven year high, passenger numbers are at levels not seen for almost 50 years, travelling by train is the safest it has ever been and passenger satisfaction with the service we, and the train operators provide, is at an all time high.  Network Rail is delivering across the board, but we know we have to do even more. “We must respond now to the challenge of accommodating the growth predicted in the years ahead.  The need to boost capacity on the network is clear, and Network Rail will play its part in making this happen. “The past six months have added to the success of Network Rail’s four year history, but new and greater challenges lie ahead.  We will do more for passengers and freight users and deliver ideas and solutions to ease overcrowding and boost capacity.”

Network Rail’s income has now moved to its originally intended levels, resulting in profit. For the past two years the company has been making significant losses due to it agreeing to defer a large portion of its pre-planned income from the Government for the first two years of the current control period (2004-2009