The loss of the £6 billion ScotRail franchise to Dutch firm Abellio failed to knock trains and buses operator FirstGroup off track last year.
The company, whose First Great Western service received the most complaints about delays on social media last year, saw its pre-tax profits steam ahead to £105.8 million in the year ending March 31, compared with £58.5 million the year before.
Its results were boosted by improvements in its US yellow school buses arm and UK buses division.
The rail business won a four-year, £68 million deal, extending operation of the Great Western line to Oxford, Bristol and the west country in March.
However, recent losses include Scotland’s train services as well as the Thameslink franchise.
Chris Surch revealed plans to step down as its finance director next January due to “personal reasons” and former Intertek boss Wolfhart Hauser will replace John McFarlane as chairman next month.
The shares rose 5% to 125.46p.