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3 years ago
Flat pack giant IKEA posts fresh record full year profit
January 28, 2014 / 8:01 AM / 3 years ago

Flat pack giant IKEA posts fresh record full year profit

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STOCKHOLM, Jan 28 (Reuters) - 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 positive signs."

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)

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