NETWORK RAIL LIMITED UNVEILS PRELIMINARY RESULTS TO REFLECT SIX MONTHS OWNERSHIP OF RAILWAY INFRASTRUCTURE

Wednesday 28 May 2003

NETWORK RAIL LIMITED UNVEILS PRELIMINARY RESULTS TO REFLECT SIX MONTHS OWNERSHIP OF RAILWAY INFRASTRUCTURE

Region & Route:: National

Network Rail Limited, the ultimate parent company of Network Rail Infrastructure Limited (NRIL), formerly Railtrack PLC, today unveiled its results alongside those of its infrastructure company NRIL. Announcing the results of Network Rail Limited, Chairman Ian McAllister said: “The financial information presented represents six months ownership of the railway infrastructure and highlights the challenges we face in stabilising the network both financially and organisationally. The results offer a chance to draw a line under the past with regard to Railtrack entering and exiting administration. “Our focus is now on the future and the need to make progress on the delivery of a safe and reliable rail infrastructure at an affordable cost. Sustained improvement of the rail network will take several years and the first steps have been taken. We now have clear plans and know the direction that we must take.”

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We own, operate and develop Britain's railway infrastructure; that's 20,000 miles of track, 30,000 bridges, tunnels and viaducts and the thousands of signals, level crossings and stations. We run 20 of the UK's largest stations while all the others, over 2,500, are run by the country's train operating companies.

Usually, there are almost five million journeys made in the UK and over 600 freight trains run on the network. People depend on Britain's railway for their daily commute, to visit friends and loved ones and to get them home safe every day. Our role is to deliver a safe and reliable railway, so we carefully manage and deliver thousands of projects every year that form part of the multi-billion pound Railway Upgrade Plan, to grow and expand the nation's railway network to respond to the tremendous growth and demand the railway has experienced - a doubling of passenger journeys over the past 20 years.

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