Fine will not hit too hard

The Thames Train franchise no longer exists

The £2m fine imposed on Thames Trains for its part in the fatal Paddington rail crash will not have too much of an impact on the group's owner Go Ahead.

Last September, Go Ahead reported pre-tax profits after one off charges had risen to £44.6m for the year to June, from £43.1m the year before.

This was despite, as the transport firm said, "extraordinarily disruptive circumstances".

Over the course of the year the group had been hit by disruption of the rail network following the Hatfield disaster and other Railtrack problems.

On top of the rail problems its aviation business - which provides airports with ground handling services - was hit by the impact of post 11 September terror fears which hit most airlines across the globe.

Out of action

But the firm's bus arm, which has operations across the UK, did pull in plenty of business and made a healthy £4.1m profit.

Analysts expect the transport group will account for the £2m fine in its year-end results later this year.

And the £2m cost may be the last footnote in the history of Thames Trains.

The company no longer exists, and its rail services - covering commuter routes through the Thames Valley into London Paddington station - have been taken over by the train firm FirstGroup.

The Strategic Rail Authority named FirstGroup the preferred bidder for the franchise in September last year.

The firm took over the franchise this month and now has responsibility for managing its 71 stations and fleet of 62 trains until March 2006.