Sales up, profits mixed at Swedish Match

Swedish Match’s sales increased by 2 percent to SEK2.98 billion ($460 million) during the first quarter of fiscal 2013. In local currencies, sales for the first quarter increased by 5 percent.

Operating profit from product areas for the first quarter declined by 8 percent to SEK832 million. In local currencies, operating profit from product areas for the first quarter declined by 6 percent.

Including the group’s share of net profit in STG and larger one-time items, operating profit increased by 6 percent to SEK1.03 billion for the first quarter. This figure includes an additional capital gain of SEK159 million on the disposal of the former head office site in Stockholm.

Swedish Match also announced the launch of several snus products in Sweden, including a new Kaliber in the value segment and a new Kronan in the mid-price segment. The company also introduced a new General Tailored White, which uses a proprietary technology to create a softer mouth feel while reducing weight.