Analysts trimmed their consensus forecast for full-year adjusted pre-tax profits from £403 million to about £385 million to £390 million, but this stopped short of a profit warning.

They are undeniably costly, trading at a multiple of 34 times consensus forecast earnings and with a yield below 2 per cent.

This disappointed the consensus forecast among economists of a decline to 707,000.

The consensus forecast was for a small decline.

Profit before tax was 185.7m, a 13.8% rise and better than the 184.5m consensus forecast.