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Ikea builds higher profits

Ikea Australia country manager, Jan Gardberg, in the retailer’s small-format store in Sydney.
Swedish furniture giant, Ikea, says its net profit rose by five per cent in its 2014-2015 fiscal year to 3.5 billion euros ($A5.3 billion). Sales increased by 11.2 per cent to 31.9 billion euros for the company which popularised flat-pack furniture, assembled by customers themselves, although that increase fell to 8.9 per cent when currency fluctuations were stripped out. Together with rental income from its shopping centre business, total revenue increased by 11.5 per cent to 32.7 billion euros