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BRIEF-Swedish Match Q3 operating profit beats forecasts​
October 27, 2017 / 6:30 AM / a month ago

BRIEF-Swedish Match Q3 operating profit beats forecasts​

Oct 27 (Reuters) - Swedish Match

* Q3 ‍sales increased by 1 percent in local currencies. Reported sales declined by 1 percent to 4,069 mln SEK (4,118)​

* Reported operating profit from product areas amounted to 1,089 mln SEK (1,089) for Q3​

* Q3 snus and snuff operating margin 45.2 percent versus Reuters poll forecast 43.6 percent

* Reuters poll: Swedish Match Q3 operating profit from product areas was seen at 1,055 million SEK, net sales at 4,123 million

* Says for 2017, on a full year basis, we expect Scandinavian snus as well as us moist snuff consumption to grow as measured in number of cans. In Scandinavia, we expect the growth to be more modest than in 2016‍​

* Says we expect the level of competitive activity in the Scandinavian snus market to continue to be high 2017

* Says for cigars in the US, Swedish Match expects the market to continue to grow during the remainder of 2017 but to remain highly competitive

* Says continues to have the ambition to grow cigar volumes but note that the second half of 2016 was strong for cigar shipments

* Says the operating loss for snus and nicotine pouches outside Scandinavia is now expected to be lower than in 2016 Source text for Eikon: Further company coverage: (Reporting by Stockholm Newsroom)

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