Profits at Irish arm of IKEA up 82% to €23.5m last year

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The Irish arm of Swedish furnishing giant, IKEA is eyeing further expansion here as pre-tax profits last year increased by 82% to €23.49m.

New accounts filed by IKEA Ireland Ltd show that pre-tax profits surged at the retailer last year as revenues increased by 16.5% from €216.7m to €252.42m in the 12 months to the end of August last.

They state:"During the year, IKEA opened Plan & Order Points in Drogheda, Cork and Portlaoise, with plans to open in more locations in 2024." On the company’s future developments, the directors state:"We’re on an expansion journey in Ireland. We plan to invest in new and existing ways to shop and meet people including new Plan & Order Points, a new distribution centre, developing the existing store, and new delivery capabilities; making it easier and more sustainable to shop at IKEA than ever before."

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