STOCKHOLM Jan 28 IKEA Group, the world's
biggest furniture retailer, posted a 3.1 rise in full-year net
profit on Tuesday and said consumer spending was beginning to
recover in many markets.
Net profit at the Swedish flat-pack furniture giant was a
record 3.3 billion euros in the 12 months through August 2013.
"Consumer spending is improving in many countries," IKEA
Chief Executive Peter Agnefjall said in a statement. "While the
challenging economic situation may not be over, there are
The group, whose largest markets are Germany, the United
States and France, repeated its target of doubling sales to
about 50 billion euros by 2020.
The company had earlier reported a 3.1 percent rise in sales
for the full year.
(Reporting by Simon Johnson)