The Swedish retailer Ikea is planning to expand its presence in Ireland having generated record sales and profits at its Dublin outlet last year, as 2.6 million visits were made to its Dublin store.

The company’s latest accounts show that pre-tax profits from the Ballymun store almost doubled to just over €13m last year while sales rose by 17% to €132m. This added to the momentum generated in the previous year when sales rose by 8% and profits jumped by 22%.

A spokesman for Ikea said it was committed to expanding in the Irish market  and has been identifying sites for a potential second store in Ireland.

"Ikea are committed to expanding in the Irish market and have been identifying sites in Ireland for a potential second store. However, we have no further plans to confirm at the current time," the company told the Irish Independent.

"What we have seen over the past few years is that where we invest, we see growth, whether it be in improving the shopping experience for our customers, lowering our prices or in developing and rewarding our people," she added.

Ikea Ireland confirmed that it is committed to joining the Living Wage Foundation during the current financial year, with employees receiving the living wage from April.