TESCO bosses are missing out on an annual bonus again, according to the annual report of the supermarket giant.

The document states chief executive Philip Clarke and outgoing finance director Laurie McIlwee will not receive any long or short-term bonus payments for the 12 months to February 22 when Tesco profits fell by six per cent.

Neither executive received a bonus in the previous financial year.

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However, Mr Clarke still received a package worth more than £1.6 million, up from £1.28m, made up of a £1.1m basic salary, £101,000 of benefits and £391,000 of pension payments,

The benefits included sums of £45,000 for a car, £27,000 for drivers and £13,000 on security.

According to the report, Mr McIlwee took home in excess of £1.5m, which was up from £1.36m, and will receive a near £1m severance package.