Ikea has broken the secrecy surrounding its finances to reveal that it drove up profits by 11% last year, to £2.17bn.
The company, which has hitherto remained tight-lipped about its results, says it will now be releasing a financial statement annually.
“Over the past number of years, we have had many requests to learn more about Ikea and we welcome the increased interest,” Ikea said. “Therefore, the board decided in December 2009 to every year present a summary and comments in an easy and accessible way on our financial results and the most important developments.”
Sales in the company’s 2009 financial year were 1.4% up at 21.8bn Euros, but the growth was driven by 15 new stores. However, in the financial year to August 31 2010 sales had improved by 7.7%.