Network Rail has confirmed it spent a massive £5 billion on infrastructure improvements in 2012-13 - the equivalent of £14 million every day.

On releasing its results for the financial year, the company - which operates the UK's rail network - said passenger satisfaction levels had reached a record-high 85 per cent over the 12-month period.

Bosses also hailed the success of major projects including the £130 million facelift given to Edinburgh Waverley station, the ongoing £895 million redevelopment of Reading station and "outstanding" upgrades completed at London's busy King's Cross rail hub.

Network Rail group finance director Patrick Butcher said the last 12 months had been challenging, but this did not stop the firm from investing "unprecedented" amounts of money into the nation's rail system.

"Our overall financial performance remains strong and we are on track to deliver over £5 billion of cost savings for the five years to 2014," he commented.

Previous reports have suggested Network Rail is in line to spend around £37 billion on infrastructure improvements between 2014 and 2019.