Swedish Match Confident About Snus Business

Source from:  Tobacco Reporter 10/28/2011

In reporting its third quarter results, Swedish Match said that its snus sales would continue to grow in its Scandinavian and US markets, according to a Reuters story. SM's operating profit during the third quarter, at SEK983 million, was down by six per cent from that of the third quarter of 2010, partly due to the restructuring costs incurred because of a cigar factory closure in Europe. Taking out the premium cigar and pipe tobacco operations of the Scandinavian Tobacco group, operating profit was up by three per cent to SEK909 million. Enditem