FirstGroup chief Moir Lockhead insists that safety is the number one priority

"Until the Hatfield accident, performance in all three of our train operating companies was excellent.

"However, revenues were severely impacted by the disruption to the network," said chief executive Moir Lockhead.

FirstGroup's trains were not involved in the crash.

FirstGroup suffered a �6m fall in revenues from its three rail franchises - First Great Western, First Great Eastern and First North Western - to �761.2m, while operating profits rose to �56.2m for the fiscal year ending in April.

From track to motorway

FirstGroup's drop in revenues from its trains was partly due to droves of passengers deserting the railways and taking to their cars because of safety fears.

In addition, many people stopped taking the train following widespread delays caused by temporary speed restrictions while track repair and essential maintenance were carried out.

UK passenger numbers have fallen sharply in the wake of recent train accidents

FirstGroup has implemented more safety measures, including sending its staff to safety workshops.

Mr Lockhead stressed that safety is the number one priority for the company.

It has also launched a series of fare promotions to attract passengers back to the trains.

Additionally, the group is seeking compensation from Railtrack, the company in charge of maintaining and operating the railways, for the losses it has incurred as a consequence of the speed restrictions.

Track repairs

Railtrack is facing a 21 May deadline for finishing the track repairs. The company says it will be 98% complete by then.

But despite this, FirstGroup fears that some of its lines will not be repaired in time for summer.

FirstGroup's pre-tax profits rose 13% from last year.

Its US operations, along with the trains, aided the rise, while its bus division suffered a fall in profits due to rising labour costs.