Furniture giant Ikea has broken its traditional habit and issued full-year results in acknowledgement of widespread interest in the business.
Ikea recorded an 11.3% increase in group net profits to €2.5bn in 2009, when sales edged up 1.4% to €21.8bn. In the 2010 financial year sales rose by 7.7% to €23.1bn – profits will be disclosed “at a later date”.
The retailer reported that in 2009 “the main part of the profit was reinvested in existing, relocated and new stores, as well as in factories and retail centres”.
Group president and chief executive Mikael Ohlsson said: “The INGKA Holding supervisory board decided in December 2009 to, on a yearly basis, present a summary with comments on our financial results and the most important developments.
“The yearly summary is aimed at our co-workers and suppliers as well as other stakeholders, who have shown an increasing interest in knowing more about different parts of Ikea.”