Shares in Greene King fell 4.5p to finish on 825.5p yesterday, despite the brewer revealing record full-year results.

Yesterday, in full-year results to April 30, Greene King reported a 25% increase in pre-tax profit before exceptional items to £119.6m, on sales up 16% at £818.6m.

The City remained concerned about the effect that the Scottish smoking ban had had on its sales but welcomed the group's plans to prepare for a smoking ban in England and Wales.