Ikea pre-tax profits fall 40% despite €2m spent per week

Shoppers spent almost €2m per week at Ikea’s Irish store in Dublin last year as the outlet recorded a 40% drop in pre-tax profits to €6.8m.

Accounts just filed by Ikea Ireland Ltd to the Companies Office confirm that revenues at the Ballymun store fell 7%, from €110.7m to €102.8m, in the 12 months to the end of August last.

The store failed to repeat the pre-tax profits of €11.4m recorded in its first full year of operation in Ireland.