Ikea Posts Record Profit, Gains in Almost All Markets

January 19, 2012  by in UnCategorized   

By Aggregated Content in Financial Reports on January 20, 2012 from http://www.reuters.com/article/2012/01/20/ikea-earnings-idUSL6E8CG32Z20120120 Sweden's IKEA, the world's biggest furniture retailer, posted on Friday a record profit for the fiscal 2010/11 year on the back of growing sales and a bigger share in almost all of its markets. Net profit at the privately-held Swedish firm, known the world over for low-price, self-assembly, flat-packed furniture, rose 10.3 percent to 2.97 billion euros ($3.8 billion) in the year to last August.

Revenue grew 6.9 percent to a record 25.17 billion euros, with existing stores accounting for 2.7 percent of sales growth.

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