Swedish Match Q2 Profit, Snus Margin Beat Expectations
Swedish Match has reported a bigger-than-expected rise in operating profit helped by a strong performance in snus and cigars.
"The second quarter was somewhat unusual in that all of our businesses performed at or above our own expectations," CEO Lars Dahlgren said in a statement.
The wet snuff and cigar maker has grown in the U.S. cigar market in recent years and hopes for similar success there with snus, which is banned elsewhere in Europe and which faces increased competition in its home market.
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