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Rail infrastructure firm Network Rail has reported a four per cent rise in first-half profits, while hailing the best train punctuality for a decade.

The company's pre-tax profit rose to £780 million in the six months to September 30th, up from the £747 million reported for the corresponding period of last year.

It also stressed that on average 91 per cent of trains were on time over the period, leaving punctuality rates at a ten-year high.

Network Rail added its "strong and stable" finances were allowing continued high levels of investment in Britain's railway network.

The company, which has pledged to expand and develop the network further over the next five years and beyond, says rail passenger numbers are now at a 60-year high – with the need to boost capacity "clear".

Commenting on the group's performance over the first-half, Network Rail chairman Ian McAllister said the company was committed to delivering a "bigger, better railway" for passengers and freight that would ease overcrowding.

"The company's performance over the past six months demonstrates the increasing strength and stability of the national railway network," he said.

"We will maintain a daily focus on the delivery of a safe, reliable and efficient railway, while also looking to the future - growing the capacity of the network and creating an even greener railway for customers," Mr McAllister stressed.

Network Rail revealed a further 16 per cent increase in capital expenditure has seen over £1.7 billion invested in the network over the past six months.