Profit up at Swedish Match

Sales at Swedish Match during the second quarter to the end of June, at SEK4,214 million, were increased by eight percent on those of the second quarter of 2016, SEK3,920 million, the company said on Friday in reporting its first-half results. In local currencies, sales increased by four percent.

Operating profit from product areas (excluding larger one-off items and SM’s share of the net profit of the Scandinavian Tobacco Group [STG]) increased by eight percent, from SEK1,008 million to SEK1,091 million, and in local currencies by four percent.

Earnings per share were up from SEK4.01 to SEK4.49, while earnings per share excluding a dividend from STG in 2017 and share of net profit in STG in 2016 were increased from SEK3.72 to SEK4.18.