Co-op Group chairman Allan Leighton
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Co-op chairman: We lost the heart of what Co-op was

The Co-operative Group has revealed it made a profit of £124m in 2014 compared with a loss of £255m the previous year.

It said its food and funerals business had performed "robustly", with same-store sales in food up 0.4%, but its insurance business had lost money.

Co-op Group chairman Allan Leighton told the BBC that the business had strayed a long way: 'We lost the heart of what the Co-op was. I mean look at what's happened to the business, it's terrible."

Go to next video: Co-operative Group returns to profit