The companies behind IKEA’s UK retail property and distribution services have reported a mixed performance as sales rose in one but declined in the other.

According to IKEA Properties Investments, which provides rental units for IKEA retail businesses, latest accounts for the year ended 31 August 2024, total sales rose by 3.8% to £85.8m from £82.6m in 2023. Pre-tax losses resulted at £249.2m, widening from a loss of £190.2m.

Stated in its report, the company said that the loss is due to the fair value loss in the Investment property portfolio recognised in both the current and prior years.

As for IKEA Distribution Services, which provides warehousing, distribution and logistics services to the supplier of the IKEA retail businesses, latest accounts for the same period saw total sales decline 8.7% to £133.3m from £146.1m. Pre-tax profit resulted at £6.9m, up from £6.7m the previous year.

Stated in its report, the company, which operates a large distribution warehouse in Doncaster, a customer service centre in Peterborough and manages a subcontracted parcel unit in Corby, said: “We will support the retail growth strategy by continuing to invest in resources, process improvements and increased technical capabilities to better meet our customer needs.”