The company which jointly operates the troubled Southern rail franchise, has seen full-year profits soar 27 per cent to almost £100 million, just one day after the Government handed Southern a £20 million "bailout" package.

On Thursday transport secretary Chris Grayling said the funds would help Southern “get to grips” with the delays and disruption which have caused months of misery for commuters.

Go-Ahead Group, which owns 65 per cent of Southern operator Govia Thameslink Railway (GTR) alongside Keolis, also saw revenues rise 4.5 per cent to £3.4 billion.

Boss David Brown said: "A large part of the role of the GTR franchise is to introduce three new train fleets and modernise working practices. During this period of change, Southern services have been disrupted by restricted network capacity, strike action and increased levels of absence.

"We apologise to the people whose lives have been affected during this time. We continue to work closely with the DfT (Department for Transport), Network Rail and other suppliers and partners to operate the best service possible while delivering the long-term improvements."

Brown saw his pay rise to £2.16 million this year, from £1.96 million in 2015, despite the network he operates having the worst punctuality record of any franchise in the country, with almost one in five trains late. The Southern rail owner runs the five worst performing lines in the country, including the nation's least punctual train line, the premium-priced "Gatwick Express" which notched up 8,100 late services in the first six months of 2016.

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In January, Southern announced fare rises for exasperated passengers. The company has failed to resolve a bitter dispute with unions over the role of guards and staff shortages.

But Southern said it plans to press ahead with replacing guards with new on-board train supervisors, who do not have control of train doors. The move has triggered strike action from unions, who say the move will compromise safety.

Rail, Maritime and Transport (RMT) union general secretary Mick Cash said: "While Go-Ahead have been driving Britain's biggest rail franchise into total meltdown, the cash has been sloshing through the boardroom at obscene levels. This is reward for total failure on a scale which is off the map.

"Just a fraction of these profits would be enough to keep the guards on Southern trains, keep the passengers safe and resolve the industrial dispute between RMT and the company. It is shameful that they have opted to hoard cash instead of protecting the travelling public."

Southern rail strikes: On board the 5.20pm from Victoria

Southern was given some good news when the TSSA union called off a planned 24-hour walkout on 7 September in a row over ticket office closures.

But the 48-hour walkout over the deadlocked guards dispute is fue to go ahead as planned on 7 and 8 September, which will cause fresh travel misery for hundreds of thousands of passengers.