Man, the world's largest publicly-traded hedge fund group, comfortably beat analysts' consensus expectations as profits for the six months to September surged one-third to $766m (€605m), on record sales and a successful integration of the Refco businesses it acquired a year ago.

Analysts' estimates before Man's trading statement at the end of September had put profits for the first six months of Man's financial year up about a fifth, at $691m compared with $576m in the same period last year.