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BRIEF-Swedish Match Q2 core profit roughly matches expectations
July 21, 2017 / 6:26 AM / 3 months ago

BRIEF-Swedish Match Q2 core profit roughly matches expectations

July 21 (Reuters) - Swedish Match Ab

* Says sales increased by 8 percent to 4,214 msek (3,920) for q2.

* Q2 ‍operating profit from product areas1) increased by 8 percent to 1,091 msek (1,008)​

* Says ‍in local currencies, operating profit from product areas increased by 4 percent​

* Swedish match ab says outlook has been updated based on developments during first six months

* Q2 snus and snuff operating margin 42.0 percent

* Reuters poll: swedish match q2 operating profit from product areas was seen at 1,057 million sek, net sales at 4,151 million sek

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

* Swedish match ab says the year on year comparison for cost of goods for cigars will be adversely impacted by the fda user fees through the third quarter of 2017

* Swedish match ab says the operating loss for snus and nicotine pouches outside scandinavia is now expected to be lower than in 2016

* Swedish match ab says decision to invest in additional zyn production capacity will predominantly affect capital expenditures in 2018

* Swedish match ab 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 Source text for Eikon: Further company coverage: (Reporting By Anna Ringstrom)

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