IKEA Russia sees sales and profit rise

IKEA stores in Russia, operated by IKEA DOM LLC, saw revenues rise 13% to RUB35.1 billion (USD1.1 billion) in the year to August 2009, while gross profit was RUB10.4 billion (USD327 million), up 11% over the previous year. IKEA MOS LLC, which manages the Mega shopping malls, generated a revenue increase of 12% to RUB16.1 billion (USD506 million), but incurred a loss of RUB2.22 billion (USD70 million), an improvement from the loss of RUB3.4 billion (USD137 million) in 2008. The company added three stores during the period. Currently it operates 13 stores and 14 Mega malls in the country.