prudence

The analysts say the softer-than-expected margin outlook reflects the company’s prudence in managing market expectations, which has helped its results consistently beat forecasts in recent quarters.

"The points are the most important thing, I don't want to talk about mal-intent, just prudence. A little more prudence would be good for everyone."

The Tory leader will also try to reclaim the mantle of financial prudence from Labour, which has sought to position itself as the party of sound money and economic stability since winning power.

"The notion that they're devoted to fiscal prudence is not borne out by their actions."

That's still a wise mindset when thinking about how the rest of this group might pan out - confidence laced with caution, positivity laced with prudence.