4 Oct 2010

Ikea sales rise in first published results

11:39 am on 4 October 2010

Swedish home group Ikea has published its first ever earnings report.

The privately-owned company made $US3.4 billion in the year to August, a rise of 11% compared to the previous year.

The BBC says the growth may reflect international expansion, and the Swedish furniture retailer did not give a separate "like-for-like" figure that strips out the effect of new store openings.

Ikea did not give a profit figures for the year, however.

The company has 280 stores in 26 countries and says it plans to open new branches in Serbia, Croatia, and South Korea.