3 million visitors and 2.5 million meatballs sold as Ikea’s Dublin store sees record revenue

ikea

Ikea Ireland has reported a jump in revenue by more than 15 per cent to a record €152 million.

The home furniture giant’s had 3 million visitors to its Ballymun store just off the M50. The three million visitors also represent an increase of 15% on the 2.6 million that visited the store in 2015.firm paid a dividend of €11m to its parent firm last year.

Despite the record recording-breaking revenue, profits did not rise in the same way. The company’s pre-tax profits decreased by 10% to €11.48m. The drop is profits is a result of higher costs including administrative expenses which increased by 30% from €29.6m to €38.6m and the cost of sales going up from €87.37m to €100.3m. Staff costs at Ikea last year increased to €17.2m.

The retailer also employed additional 110 new workers during the year taking the total number of staff to 663.

The average shopper spent €50 per trip and the total number of trips to the outlet were also 15% higher than 2015.

The Swedish retailer, famed for its flatpack stylish homewares last year opened a new outlet in Carrickmines in south Dublin in addition to its flagship store in Ballymun on the north side of the city.