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Swedish Match Profit Rises 16% on U.S., Swedish Snuff (Update2)  

Swedish Match AB, Europe's largest maker of smokeless tobacco products, reported second-quarter profit growth that beat analysts' estimates on stronger sales of snuff in the U.S. and Sweden.

Net income climbed 16 percent to 512 million kronor ($86 million) from 441 million kronor a year earlier, the Stockholm- based company said today. The average of eight analysts' estimates compiled by Bloomberg was 471 million kronor.

Snuff is Swedish Match's main earnings generator and most profitable product. Margins strengthened in Scandinavia . . .

The Swedish company and Lorillard Inc., the maker of the top-selling menthol cigarette in the U.S., have a joint venture that began selling snus under the Triumph brand in Ohio earlier this year to test demand.

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