Network Rail’s revenues rose from £6.259bn to £6.580bn in 2017/18 but net debt rose from £46.3bn to £51.2bn.
Operating costs climbed from £2.836bn to £3.192bn.
Capital expenditure fell from £6.788bn to £6.634bn.
Profit before tax fell from £483m to £48m. A fall in profits had been expected, and will continue in 2018/19, the final year of the current regulatory control period. “This is because income, largely fixed by...
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