Leon’s Furniture shrugged off both a downturn in the housing market and reluctant shoppers to post a growth of 7.4 per cent in fourth-quarter profits and higher overall sales.

The company said Thursday that it turned out earnings of $23.2 million during the last three months of 2008, an increase from $21.6 million in the same period last year.

Revenues were also higher, up to $269.9 million from $185.9 million, partly on the acquisition of Appliance Canada in January 2008, which primarily sells appliances to apartments and offices.

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