The number of passengers and freight trains carried on Britain's rail network soared in the year to March, helping train infrastructure group Railtrack to bumper profits.
The company said an additional 50 million passenger journeys were made during the year, with the number of trains on the network rising by 4%.
Rail freight also saw a comeback after years of decline, with a 12% rise.
Profits before tax for the year to March 31 were #388m, up from #346m in the previous year, on turnover up from #2440m to #2470m.
Railtrack said it had increased investment by 30% to #1250m in 1997-98, refurbishing or restoring 230
stations.
Chairman Sir Robert Horton said new projects such as the Paddington to Heathrow link and the upgrade of the West Coast Main Line would
accelerate the growth trend.
He added: ''The last 12 months have seen Railtrack embark upon the largest programme of capital investment in Britain's rail network since the 1950s.
''We have committed to invest #17bn to create a modern infrastructure that can form the heart of the nation's transport.
''Our overriding task is to invest in the regeneration of the railway to deliver an increasingly efficient, safe service for the benefit of the travelling public, our customers and the nation.''
The results were brought forward by 24 hours to co-incide with the announcement from Deputy Prime Minister John Prescott that Railtrack was to play a crucial role in a complex rescue package for the #5400m high-speed rail link between the Channel Tunnel and
London.
Railtrack said it expected to invest #1500m on the purchase of phase one of the scheme, from the tunnel to north Kent and due for completion in 2003, and a further #1800m on phase two to London, due for completion in 2006.
Under the rescue plan, the London & Continental Railways consortium (LCR) will be the project sponsor, with all building to be done by
Railtrack, which has the right to buy the link once completed.
The Government has taken a 35% stake in LCR and a 5% stake in the management consortium, which will run the Eurostar train services from London to Paris.
Railtrack finance director Norman Broadhurst said that Railtrack has given the commitment to buy the link in two phases.
The first phase, which will be stop just short of Ebbsfleet in Kent, will be constructed by 2003 and phase two - running through London - by 2007.
''We take the whole construction risk on board in an agreement with Bechtel,'' said Broadhurst.
The finance chief added that any delays to the building of the link would eat into the group's final returns from the project.
Railtrack said it would be able to fund the purchase of phase one of CTRL through debt.
It said by 2003 it would start to receive track access charge income for trains running on the first part of the CTRL link to be built.
Railtrack added that it had already talked with its investors about the involvement in CTRL.
Broadhurst and chief executive Gerald Corbett said they believed they had the support of shareholders for this move.
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