The number of broken rails is at a record low

More than 85% of trains arrived on time as of mid-September compared with 81.8% a year ago, according to figures from the rail infrastructure owner.

Network Rail said the progress was the result of a closer working relationship with train operating companies.

However, losses at the not-for-dividend company rose in the past six months to �108m and its debts increased.

Safer railway

Delays attributable to Network Rail - responsible for Britain's rail infrastructure - have fallen 12% over the past year.

We will continue to demand maximum value from every pound spent Ian McAllister, Network Rail chairman

This comes at a time when the number of broken rails and incidents of trains passing signals at danger are at a record low.

"The company is very proud of the achievements that have been made - making trains more punctual, the network progressively safer and more cost efficient," said chairman Ian McAllister.

However, at the same time Network Rail's pre-tax losses increased to �108m in the six months to the end of September, up from a loss of �8m in the same period last year.

This was largely due to higher interest charges on the company's debt, which has risen from �13.9bn to �16.8bn in the past year.

Operating profit, on the other hand, rose slightly to �269m.

Network Rail has spent �1.4bn on repairing and upgrading the rail network over the past six months.