Capital expenditure increased slightly to just under £4bn compared with £3.92bn in 2009-10, but NR's net debt rose to £25bn compared with £23.84bn in 2009-10. NR's gearing ratio is currently 63.4%.
Passenger train punctuality dropped slightly from 91.5% in the previous financial year to 90.9% last year mainly due to the bad weather last winter.

"The past year has seen some significant progress in driving down the costs of running the rail network but we know that we still have a great deal to achieve," says Mr Rick Haythornthwaite, NR's chairman. "Under our new CEO, David Higgins, we need to continue to focus intensely on delivering an even better value, more punctual railway for our customers and for passengers."