Mohammed al-Fayed, owner and chairman of Harrods, paid a £50.8m dividend to himself and his family this year as the department store rode a wave of spending on luxury goods.

Group sales, including sales made by concessions, rose 13.5 per cent to a record £688.3m in the year to February 2, with fine jewellery, women’s wear and fashion accessories reporting double-digit growth. Turn­over totalled £437m (£401m).