Leon's Furniture managed to off set the effects of recession and posted a growth of 7.4 per cent in fourth-quarter profits and higher overall sales.

On Thursday, the company announced income of $23.2 million during the last three months of 2008, an escalation from $21.6 million in the same period last year.

Profits were worth 33 cents per basic share, up from 31 cents a share in the same time frame.

The revenues also showed a growth, up to $269.9 million from $185.9 million, partially on the acquisition of Appliance Canada in January 2008.

Sales at Leon's corporate stores open at least a year fell 1.7 per cent, due to a weaker economy.

"We believe the first quarter is going to be the worst," said company president Terry Leon in a recent interview before the earnings report.

"The second quarter is probably going to improve, but very slightly, and we probably won't see a significant improvement until the second half" of the year.