Swedish Match Q3 profit narrowly beats forecast

STOCKHOLM, Oct 27 (BestGrowthStock) – Tobacco products group Swedish
Match (SWMA.ST: ) reported third-quarter earnings just above
expectations on Wednesday and said it expected key markets would
continue to grow during the rest of the year.

The company reported operating profit of 1.05 billion
Swedish crowns ($158 million) in the quarter versus the average
forecast of 1.02 billion crowns in a Reuters poll and 945
million crowns in the year-ago period.

Swedish Match said in a statement it expected the both the
wet snuff market in Scandinavia and the snuff market in the US
to continue to grow in the remaining months of 2010 versus prior
year.

(By Johan Ahlander)

Swedish Match Q3 profit narrowly beats forecast