The mixed news from Ikea is that international sales were up by nearly 6% but profits did not grow.
The world’s biggest furniture retailer said it had had 5.9% growth to €28.7bn last year. At the same time, it spent an increased amount on staff bonuses (€98 million) and made sharp cuts in its prices.
This left profits of €3.3 billion for the year, the same as in 2013.
Ikea said its “biggest ever round of price cuts” are planned for this year and it was spending €36 million on reducing prices in its stores.
Ikea said the business grew in almost all of its regions, and that its largest markets in terms of sales were Germany, US, France, Russia and the UK, where energy efficient kitchen appliances and sofa beds were in top demand.
While most of its income is from Europe, sales were rising fastest in China, Russia and Hungary.
Chief executive Peter Agnefjall said: "An especially positive sign was the growth in most of southern Europe."
Ikea’s 318 stores are now in 28 countries with Croatia being the newest.
More than 700 million people went to one of the stores during the year and the retailer logged 1.5 billion visits on its website.
Ikea plans to boost global sales to €50bn by 2020.
