April 27, 2020 / 6:29 AM / in a month

Tobacco group Swedish Match Q1 profit beats forecast

STOCKHOLM, April 27 (Reuters) - Tobacco group Swedish Match posted on Monday a bigger than expected rise in first-quarter profit and said the COVID-19 pandemic would hit results in the second quarter after giving a boost in January through March.

Operating profit grew to 1.59 billion Swedish crowns ($159.2 million) from 1.19 billion a year earlier. The mean forecast in a Refinitiv poll of five analysts had been for a rise to 1.46 billion crowns.

$1 = 9.9884 Swedish crowns Reporting by Anna Ringstrom; editing by Niklas Pollard

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