Last year saw IKEA generating income of EUR 31,9 billion

The biggest world furniture producer, Swedish IKEA, generated during fiscal 2014-15, ending in late August, income growth of 11,2%, thanks to sales increase on almost all markets.

By 2020, IKEA is planning to double profits compared to 2011 to EUR 50 billon, Al Jazeera reports.

IKEA Group which controls 328 shops in 28 countries, communicated it generated profit of EUR31, 9 billion. In local currency, sales increase totaled 8,9%.

Record sales growth was generated in Germany while significant increase of income was made in North America, China and Russia. The share in profit generated in shops which have been opened for longer than a year in total income increase is 5,1%.

During 2014-15, IKEA opened 13 new stores and had 770 million visitors.