Expansion costs drag Ikea Ireland profits down 71%

Pre-tax profits at the Irish operation of Swedish furniture giant Ikea plummeted by more than 71%, to €2.53m, last year as rising investment costs ate into performance.

Irish customers spent nearly €3.6m a week - or €181.1 million across the year - at Ikea’s main Ballymun store and at its 'click and collect' outlet at Carrickmines, in south Dublin.