In the last fiscal year, which lasted from September 1, 2021 to August 31, 2022, the manager of the furniture dealer “IKEA” in Latvia SIA “Paul Mason Properties” worked with a turnover of 108.933 million euros, which is 11.6% more than a year earlier, at the same time the company’s profit increased almost 2.7 times – up to 17.457 million euros, according to the information published by “Firmas.lv”.
In the financial year, the company realized production worth EUR 81.976 million in Latvia, which is 9% more than a year earlier, while the amount of production realized in Estonia increased by 20%, reaching EUR 25.622 million. On the other hand, income from services last year was 1.336 million euros.
“This year, despite the challenging situation in the country, is still considered to be quite successful,” said the management report of the annual report.
The management report also states that a lot of attention was paid to the opening of an “IKEA” store in Estonia last financial year, where the Latvian company was a great support in the transfer of both labor and intellectual heritage.
The management report states that with the opening of the store in Estonia and the separation of the company from the supply of goods and services to the Estonian market, the company’s shareholder made a decision on the sale of capital shares, which envisages the disposal of the shares of the Estonian subsidiary “Runikon Retail”.
