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Swedish Match Q2 tops consensus, outlook stands 

Tobacco products maker Swedish Match posted a bigger-than-expected rise in second-quarter earnings on Friday, helped by snuff sales, and stood by its full-year forecast, sending its shares higher.

Pretax profit came in at 614 million Swedish crowns ($103 million), versus a year-earlier 563 million and a mean forecast of 586 million in a Reuters poll.

"The report looks pretty good overall (with) good snuff sales and a good cigar margin," said an analyst who declined to be identified.

The operating margin for wet snuff or snus -- a tobacco sold mainly in the United States and Scandinavia but banned elsewhere in the European Union -- rose to 43.0 percent from 39.1 percent, and compared with a consensus forecast of 42.9 percent.

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