Owner of Ikea stores sees profit fall on Russia exit

Insider Paper

The owner of most Ikea stores, Ingka, reported on Friday a more than five-fold drop in its annual net profit due to higher interest rates and its exit from Russia. The group said its net profit for the 2022 fiscal year, which ended in August, fell to 287 million euros ($299 million), down from 1.6 […]

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