Swedish Match Q2 beats forecast, sees growth in H2

STOCKHOLM, July 21 (BestGrowthStock) – Tobacco products group
Swedish Match (SWMA.ST: ) reported second quarter earnings on
Wednesday which beat forecasts and said it saw further growth
for its key products in the second half of the year.

The company reported pretax profit of 816 million crowns
($110.9 million) in the quarter versus the average forecast of
794 million crowns in a Reuters poll and 791 million crowns in
the year ago period.

“For the second half of 2010 we expect both the snus market
in Scandinavia and the snuff market in the U.S. to continue to
grow versus the prior year,” the group said in a statement.

The firm added it expects its U.S. mass-market cigar
business to show sales and earnings well above the prior year in
the second half of 2010.

Stock Research Tools

Swedish Match Q2 beats forecast, sees growth in H2