Ikea Set for Spending Spree as Profits Boom

January 22, 2013  by in UnCategorized   

By Aggregated Content in Financial Reports on January 23, 2013 from http://www.thelocal.se/45772/20130123/#.UP_Nc6GOg9U

Swedish furniture giant Ikea reported on Wednesday an 8-percent rise in full-year profit and said it was benefiting from more cost-conscious consumers.

Net profit rose 8 percent to 3.2 billion euros ($4.3 billion) as revenue rose 9.8 percent to 27.6 billion euros in the year ending August 31st.

"Customers are getting more and more value conscious, which makes Ikea a better choice," Mikael Ohlsson, chief executive of the Ikea Group, said in a statement.

 

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