Global marketsUpdated November 6

Inter IKEA says consumer weakness and geopolitical turmoil will weigh on sales and profits.

Inter IKEA says consumer weakness and geopolitical turmoil will weigh on sales and profits, leaving its growth push up against a difficult outlook. Reuters reports that weaker demand had already reduced purchasing volumes and made production capacity less efficient to use. It also says Inter IKEA faced higher freight costs as the Gulf war drove up energy prices. Reuters reported net profit of €1.4 billion, down from €1.5 billion a year earlier.

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Coverage started November 6