Network Rail Announces Performance Update

Network Rail, a company that operates the UK’s railway network, has reported on the railway companies’ performance for the period October 14, 2012, to November 10, 2012.

The rail company has reported an avearge punctuality of 88.9 percent during the period, compared to 89.3 percent for the same period last year. The moving annual average is now at 91.7 percent.

The measure of train punctuality is known as the PPM (public performance measure), which refers to trains arriving at their destinations within five minutes of scheduled time for commuter services, and within 10 minutes of their scheduled time for long distance services. Train punctuality, at national level, is measured for all trains of the network, and is inclusive of cancelled services and delays.

c2c, a train operator that is owned by National express, and which operates the London, Tilbury and Southend franchise, has reported the best punctuality in this period, with a figure of 98.4 percent.

In the six month ended September 30, 2012, Network Rail reported revenue of £3,167m, compared to £2,997m for the same period last year.

Patrick Butcher, Network Rail’s group finance director, said, ‘The railway continues to see strong traffic growth which provides us with the challenge of getting the balance right between capacity, reliability and efficiency. We have seen growth on the network of 5 percent a year for a decade, and this is set to continue. That means we continue to become more efficient so we can continue to invest to meet this growth.

This, combined with the traffic growth, allows us to sustain high levels of capital investment, delivering £2.1bn worth of capital work in the six months.

Network Rail continues to evolve. Last year we completed devolving authority to all ten of our routes and now we can make progress to moving to a group structure that reflects this. We have already set up our infrastructure projects division as a standalone business unit, launched Network Rail Consulting as our international business and we have plans to run our energy, telecoms and recycling operations each with their own profit and loss account. We believe this will generate greater efficiencies and unlock greater value to the business.’