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Tobacco

Swedish Match Q3 operating profit just above expectations

STOCKHOLM, Oct 26 (Reuters) - Tobacco group Swedish Match reported on Friday a slightly bigger rise than expected in third-quarter operating profit and said growth was strong for its moist snuff “snus” and tobacco free nicotine pouches outside Scandinavia.

It did however not repeat a full-year forecast given in July for operating losses, if any, for snus and nicotine pouches outside Scandinavia to be nominal.

Operating profit rose to 1.31 billion crowns ($143.5 million) from a year-ago 1.09 billion, against a mean forecast in a Reuters poll of analysts for 1.25 billion.

Operating margin at the snus, snuff and nicotine pouch division widened to 47.0 percent from 45.2 percent, matching expectations.

$1 = 9.1266 Swedish crowns Reporting by Anna Ringstrom, Editing by Helena Soderpalm

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