Swedish Match key snus and snuff margin falls to 8-year low

 

STOCKHOLM, May 8 (Reuters) Moist snuff and cigar maker Swedish Match reported an unexpectedly big profit margin fall for its snus smokeless tobacco due to fiercer competition and said market growth for its main cash cow in Scandinavia would slow this year.
Swedish Match has fought headwinds in the past couple of years from rising taxes and the increasing popularity of cut-price brands in its key Swedish market for snus - a kind of moist snuff that is placed under the lip - while competition has also steepened in its U.S. mass-market cigar business. Continued