Period 8 of 2012/13: 14 October 2012 - 10 November 2012

Punctuality on the railways reached 88.9% during period 8, according to monthly performance data released today by Network Rail. The data for Britain's train services covers the period from 14 October 2012 - 10 November 2012. This compares to 89.3% for the same period last year. The moving annual average is now at 91.7%.

Financial highlights of the last six months:

• Revenue was £3,167m compared to £2,997m for the same period last year
• Operating profit was £1,226m compared to £1,227m
• Profit after taxation was £573m compared to £136m
• Capital expenditure – the amount invested in the railway over the period – was £2,064m compared to £2,071m
• Net borrowings were £28,043m compared to £27,200m at 31 March 2012

Michael O’Higgins, former chairman of the Audit Commission and current chairman of The Pensions Regulator, has been appointed to Network Rail’s board as a non-executive director.

Network Rail refreshed and expanded the data available on its website’s transparency portal today: www.networkrail.co.uk/transparency.

Network Rail has seen 18 of its former apprentices graduate from Sheffield Hallam University with Higher National Certificates (HNC) in railway engineering – the first to do so following a decision to support the best and brightest by providing the opportunity to continue their learning and gain additional qualifications in their specialist field.

Network Rail Consulting, the international consultancy arm of Network Rail, announces today the appointment of one of Britain’s top transport business leaders, Keith Ludeman as a non-executive director.

Susan Cooklin, Network Rail’s chief information officer has won ‘CIO of the Year’ at the UK IT Industry Awards 2012.

A collective cheer could be heard today as Network Rail began tearing down the unloved green canopy that has overshadowed the historic frontage of King’s Cross station since the 1970s. Once removed it will reveal, for the first time in 150 years, Lewis Cubitt’s magnificent Grade I listed Victorian station façade and London’s newest public space – King’s Cross Square.