IKEA has said that its profit jumped 10.3% last year as the Swedish furniture retailer increased sales despite economic uncertainty in some of its key markets.
IKEA said it made a net profit of €2.97 billion in the year ended August 31, while revenue grew 6.9% to €25.17 billion.
Chief executive Mikael Ohlsson said sales growth had accelerated since September, despite the debt crisis in Europe continuing to hit markets around the globe.
Ohlsson said IKEA is examining the details of recent legislation that will open up India to foreign companies and allow large single-brand retailers to own 100% of their stores there. He said IKEA would only open stores in the fast-growing country once it was sure laws would not interrupt its cherished value chain.
