UK railways receive 'record investments' - CILT(UK)
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UK railways receive 'record investments'

21 November 2013/Categories: Industry News


The UK's railway has received a record level of investment for the first half of the financial year.


Figures from Network Rail show the most recent half year, running from April 1st to September 30th, saw £2.74 billion pumped into the system. This equals around £15 million a day and is 33 per cent more than the same period last year and up 53 per cent from four years prior.


Network Rail's group finance director Patrick Butcher said: "The railway continues to experience tremendous growth and we are responding to that demand through the biggest sustained investment programme since Victorian times."


Throughout this period, revenue remained fairly flat at £3.3 billion, compared to £3.2 billion last year and operating profit was similarly stable at £1.2 billion.


Post-tax profits of £870 million, however, were up from last year's £563 million, which Network Rail puts down to increased tax treatments and other derivative gains.


It also now values its railway assets at £47.9 billion, which is up from the value of £46.4 billion given at the end of last year.

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