No profit in meat for Tesco

Tesco said yesterday it was making next to no profit from selling meat. Britain's largest supermarket chain has been accused of squeezing hard-pressed producers' profits and then failing to pass on savings to customers.

Terry Leahy, Tesco's chief executive, said the store was actually lucky to balance its books in the butcher's department.

He announced the launch of an investigation into where money in the meat supply chain is going.