# Swedish Match continues to see strong smoke-free sales growth
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-10-28
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Swedish Match Q3 profit in line with forecasts
Meta Description: Swedish Match's Q3 operating profit meets expectations with rising sales of smoke-free products like nicotine pouches, amidst weak results in other areas.
URL: https://financedigest.com/swedish-match-continues-to-see-strong-smoke-free-sales-growthhtml

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(Reuters) -Nicotine and tobacco products group Swedish Match on Friday reported third-quarter operating profit in line with forecasts as strong sales of its smoke-free products, such as nicotine pouches, offset weak results in other business areas.

Swedish Match is in the process of being bought by Philip Morris International and its board late on Thursday said it still recommended the offer, after its Swiss rival upped the offer price.

Quarterly operating profit rose to 2.40 billion Swedish crowns ($218.74 million) from 2.08 billion a year earlier. Analysts polled by Refinitiv had on average [forecast a profit](https://www.financedigest.com/mercedes-benz-lifts-profit-forecast-as-luxury-cars-boom.html "Mercedes-Benz lifts profit forecast as luxury cars boom") of 2.47 billion crowns.

[Sales in its Smokefree unit](https://www.financedigest.com/manchester-united-tanks-on-report-glazers-may-avoid-sale-with-new-investment.html "Manchester United tanks on report Glazers may avoid sale with new investment") rose 30% in the quarter. The [unit includes](https://www.financedigest.com/stanchart-weighing-options-including-sale-of-aircraft-lessor-unit.html "StanChart weighing options, including sale, of aircraft lessor unit") both the company’s main product “snus” – a Swedish-style wet snuff – and its newer and fastest-growing product Zyn – tobacco-free nicotine pouches that like snus are put under the lip and sucked.

($1 = 10.9718 [Swedish crowns)](https://www.financedigest.com/dollar-edges-down-from-six-week-peak-swedish-crown-jumps.html "Dollar edges down from six-week peak, Swedish crown jumps")

(Reporting by Marie Mannes, editing by Stine Jacobsen)


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