May 8, 2017 / 6:36 AM / 3 months ago

Swedish Match Q1 profit from product areas tops consensus

STOCKHOLM, May 8 (Reuters) - Wet snuff and cigar maker Swedish Match posted on Monday a higher first-quarter operating profit from product areas than expected and predicted slowing growth in Scandinavian snus consumption this year.

Operating profit from product areas increased to 994 million crowns ($113.1 million) from a year-ago 939 million, against a mean forecast in a Reuters poll of analysts of 977 million.

The operating margin for snus and snuff shrank less than expected, to 41.1 percent from 41.8 percent, against a forecast of 40.8 percent. ($1 = 8.7875 Swedish crowns) (Reporting by Anna Ringstrom)

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