Network Rail 'not meeting 90% punctuality target'

Network Rail (NR) has admitted it is failing its own punctuality target.

The track operator accepted that "performance has not been as good as we want" after revealing it was 0.5% behind its target for 90% of trains to arrive on time.

NR said: "Although progress has been made, it has proven difficult to keep pace with the stretching targets set out."

It added that it has "initiated a number of improvement plans" to boost punctuality, and pledged to do more in future.

The company announced that profits for the six months to September 30 fell to £246 million from £321 million a year earlier.

It said this was in line with expectations.

Revenue rose to £3.14 billion.

The organisation reinvests its profits back into the railways, and expects to implement £34 billion of enhancements from 2014-19.