One of Britain’s most successful supermarket chains has branded the gambling industry as unethical.

This year the company M & S, which recorded a net profit of just over half a billion pounds in 2006, launched its Mark’s and Spencer’s Money’s Ethical fund.

In its policy statement the group say “The M & S Money Ethical Fund will avoid investing in companies that are primarily involved in the activities of armaments, gambling, the fur trade, tobacco, and pornography and companies that have a poor environment record.”

The number of people choosing to open ethical funds is expected to exceed £7bn for the first time this year. Ten years ago just £1.5bn was put into environmental funds or those considered to be "socially responsible", according to Ethical Investment Research Services (Eiris).

But growing concerns about global warming and carbon footprints is prompting investors to become increasingly ethically minded and eco-conscious.

However Mark’s and Spencers seem blatantly guilty of hypocrisy in regard to their latest money making strategy.

A quick browse on the super market’s websites shows it stocks and promotes products such as “Host your own Race Nights DVD games and Poker sets.

As if that wasn’t bad enough the store stocks dozens of ‘fur’ products from slippers to coats to cushions.

And to cap it all off what about M & S’s pledge to avoid investment in tobacco companies? They don’t seem to have a problem selling cigarettes and tobacco over their shop counters!

In comparing the gambling industry with the likes of armaments, the fur trade or pornography, the supermarket group is saying gambling is immoral and wrong.

The fact that the Government of the country are backing gambling and more importantly that its citizens love having a flutter or trying their hand at online gambling doesn’t seem to have made it’s way past the frozen foods section and into the offices of the M & S moneymen.