Ikea announces profits for first time, promises to be more open

first_img whatsapp Ikea announces profits for first time, promises to be more open Tags: NULL Share whatsapp SWEDISH furniture retailer Ikea has released full-year trading results for the first time announcing net profit increased 11.3 per cent to €2.5bn (£2.2bn) for the year to 31 August.The store said group sales for 2009 increased by 1.4 per cent to €21.8bn, equivalent to 3.1 per cent growth, despite what it called “difficult” external economic circumstances.It said while rivals suffered a sharp decline in sales it had benefited from customers searching for cheaper furniture and had opened 15 new stores. Ikea said it also planned to move into new markets, including India.Group sales so far for this year increased by 7.7 per cent to €23.1bn. Ikea said profits would be announced at a later date.The retailer’s results are contained within a new leaflet called “Welcome Inside” and it is believed they are part of reforms designed to dispel allegations of secrecy by chief executive Mikael Ohlsson, who took over from Anders Dahlvig last year. Dahlvig had been in charge of Ikea for a decade.The leaflet added net income fluctuated between 10 and 13 per cent of revenue in the past 10 years. It added figures would be published every year from now on. More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com KCS-content Show Comments ▼ Sunday 3 October 2010 10:41 pmlast_img read more