Swedish Match Q2 operating profit just lags expectations
STOCKHOLM, July 17 (Reuters) - Moist snuff and cigar maker Swedish Match reported second-quarter operating profits just below market expectations on Friday, and a snus and snuff margin just above forecasts.
Swedish Match said its snus market share in main market Sweden grew from the first quarter.
Operating profit rose to 1.02 billion crowns ($119.4 million) from a year-ago 941 million, against a mean forecast in a Reuters poll of analysts of 1.03 billion.
The result includes a 42 million crown charge related to the relocation of distribution facilities in Sweden.
The snus and snuff operating profit margin shrank to 40.5 percent from 44.4 percent, against a forecast 40.2 percent.
($1 = 8.5454 Swedish crowns) (Reporting by Anna Ringstrom)
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