According to Hungarian news agency MTI, sales at the Hungarian branch of Swedish based furniture giant IKEA increased 14.6 percent in its financial year ending August 31. During this period IKEA produced revenues of HUF 47bn, while sales grew at the same pace as in the preceding period. IKEA plans to strengthen its position on the Hungarian market further and is targeting 10 percent growth. IKEA is currently building its third store in Hungary in Soroksar in the 13th district of Budapest. Completion of the 34,000 sqm outlet, which will require an investment of around HUF 16.8bn, is scheduled for the second quarter of 2017.
