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Rail News: Issue Issue 12 3 Jun 2010

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Financial results, Network Rail/Railtrack, All of UK

Network Rail reveals 75% slide in profits

Network Rail has announced a 75% slide in profits as a result of growing debts but says that it is continuing to "drive efficiencies" through the control of costs.

The not-for-profit infrastructure operator revealed pretax profits for the year to March 31, 2010 of £395m, down from the £1.5bn it generated the year before.

The firm's net debt increased by £1bn to reach £23.8bn as a result of the financial demands of its asset investment programme. However,...

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