Ikea's Irish profits down 40% last year according to accounts just filed by the Swedish flat pack giant.
It still raked in pre-tax profit of €6.8m. Revenues topped €100m for the second consecutive year since opening in North Dublin.
That's the equivalent of more than €2m a week being spent at Ikea's Ballymun store.
Accounts filed by Ikea Ireland Ltd show revenues fell from €110.7m to €102.8m, a drop of 7% in the year to the end of August 2011.
The flat pack giant recorded pre-tax profits of €11.4m in its first full year of operation in Ireland.
The directors report states that they believe that Ikea will continue to gain market share during the downturn.
