Sweden (Notifix).- The IKEA Group announced that sales for FY 2010 (from September 1 2009 to August 31 2010) were up 7.7% to €23.1 billion. The IKEA Group net profit

for FY10 increased by 6.1 % to 2.7 billion, compared to the previous fiscal year. IKEA Group states these strong results were due to increasing sales, higher gross margin and improvements in the cost structure of running the business. "FY10 was a good year financially for us ? sales grew despite tough market conditions in many countries. Profits give us the resources to grow and reach more people on existing and new markets as well as lowering our prices. The main part of the profit was re-invested in existing as well as twelve new stores in order to become even more inspiring and accessible. In times like this, even more people appreciate value for money in terms of good design and functional home furnishing products at affordable prices, and we are committed to continuing that journey," says IKEA Group President and CEO Mikael Ohlsson.