Network Rail debt rises to £27bn as profits double Network Rail, which has been warned by the rail regulator to improve its trains-on-time performance on long-distance services or face a heavy fine, said the number of trains running on time rose to 91.6pc, up from 90.9pc. Operating costs, excluding depreciation, fell to £2,35bn, from £2,47bn. While staff numbers were reduced to 35,253 from 35,606, average salaries rose by 2.2pc. At the operating level, profits increased from £2.03bn to just under £2.34bn. Capital expenditure rose from just under £4bn the year before to £4.6bn. Patrick Butcher, the Network Rail finance director, said: "We have continued to deliver a larger capital programme, building the capacity of the railway of tomorrow." Network Rail pays no dividend and has no shareholders. It was created by a renationalisation of Railtrack under Labour.