Net profits for the financial year ended Aug. 31, 2015 jumped by 17.7% year-on-year to 5.881 mln. euros, the company, which is based in Kazlu Ruda, in southern Lithuania, said in its annual report filed with the Center of Registers.
Ikea Industry Lietuva expects to increase its particle board output to 550,900 cubic meters in the current financial year, from 524,500 cubic meters in the past year, and raise furniture sales to 45 mln. euros, from 36 mln. euros.
The company invested 5.4 mln. euros in production expansion in the past year and plans to invest another 5 mln. euros in the current year.
It employed a workforce of 652 in late August 2015.
Ikea in November 2013 merged two companies -- Swedspan Giriu Bizonas and Swedwood Kazlu Ruda -- into Ikea Industry Lietuva, which is 100% owned by Dutch-registered Ikea Industry Holding.
