Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

Home News Swedish Match continues to see strong smoke-free sales growth

Swedish Match continues to see strong smoke-free sales growth

by uma

c(Reuters) -Nicotine and tobacco products group Swedish Match on Friday reported third-quarter operating profit in line with forecasts as strong sales of its smoke-free products, such as nicotine pouches, offset weak results in other business areas.

Swedish Match is in the process of being bought by Philip Morris International and its board late on Thursday said it still recommended the offer, after its Swiss rival upped the offer price.

Quarterly operating profit rose to 2.40 billion Swedish crowns ($218.74 million) from 2.08 billion a year earlier. Analysts polled by Refinitiv had on average forecast a profit of 2.47 billion crowns.

Sales in its Smokefree unit rose 30% in the quarter. The unit includes both the company’s main product “snus” – a Swedish-style wet snuff – and its newer and fastest-growing product Zyn – tobacco-free nicotine pouches that like snus are put under the lip and sucked.

($1 = 10.9718 Swedish crowns)

(Reporting by Marie Mannes, editing by Stine Jacobsen)