Swedish Match Q2 beats forecast, sees growth in H2
STOCKHOLM, July 21 |
STOCKHOLM, July 21 (Reuters) - Tobacco products group Swedish Match (SWMA.ST) reported second quarter earnings on Wednesday which beat forecasts and said it saw further growth for its key products in the second half of the year.
The company reported pretax profit of 816 million crowns ($110.9 million) in the quarter versus the average forecast of 794 million crowns in a Reuters poll and 791 million crowns in the year ago period.
"For the second half of 2010 we expect both the snus market in Scandinavia and the snuff market in the U.S. to continue to grow versus the prior year," the group said in a statement.
The firm added it expects its U.S. mass-market cigar business to show sales and earnings well above the prior year in the second half of 2010.
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