‘Flat’profits for furniture giant

The latest business news from lep.co.uk
The latest business news from lep.co.uk
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IKEA has reported flat profits for last year despite a 3.7 per cent rise in sales as it ploughed hundreds of millions of euros into employee loyalty and bonus schemes and invested in price cuts.

Net profit for the 12 months to the end of August was £2.5 billion, just 0.4 per cent ahead of the previous year. Total sales were up 5.9 per cent to £21.4 billion.