July 19, 2018 / 6:35 AM / 3 months ago

Swedish Match Q2 operating profit beats expectations

STOCKHOLM, July 19 (Reuters) - Wet snuff and cigar maker Swedish Match reported on Thursday a bigger second-quarter operating profit than expected and said its push for its wet snuff “snus” and nicotine pouches outside the core Scandinavian market could swing into profit this year.

Operating profit rose to 1.26 billion crowns ($142.1 million) from a year-ago 1.09 billion. The mean forecast in Reuters’ poll of analysts was for 1.18 billion.

The operating margin for snus and snuff widened more than expected to 45.8 percent from 42.0 percent, against a forecast 44.4 percent. ($1 = 8.8675 Swedish crowns) (Reporting by Helena Soderpalm, editing by Anna Ringstrom)

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