The company responsible for maintaining the line where the Potters Bar rail crash happened has announced a sharp increase in profits.

Jarvis has changed its accounting methods, but either way its profits are substantially higher.

Public safety and the safety of our employees are our highest priorities

Paris Moayedi Jarvis chief executive

The new method shows a profit of £45.8m for the financial year, compared with £24.8m in the previous 12 months.

Under the old system it made a profit of £50.8m compared with £30.1m.

Safety

The results cover the financial year to the end of March, before the Potters Bar rail crash in which seven people died.

In a statement, chief executive Paris Moayedi said: "These results are released only a little more than a month after the tragic events at Potters Bar.

"Everyone at Jarvis has been shocked and saddened by the terrible train derailment.

"Public safety and the safety of our employees are our highest priorities, and the impact of this tragic event is felt throughout the company."

Mr Moayedi said that because the police and the Health and Safety Executive were still investigating the derailment, it was not appropriate for the company to make any comment.

City reaction

In the City, while the results temporarily helped revive Jarvis's flagging shares, the stock closed down 8p at 315.5p on Tuesday.

Before the Potters Bar crash, Jarvis shares were trading at 520p.