SM reported its Q1 results. Sales were up +6% (+7% on an organic basis). The operating profit margin was up +70bp. Results by division: Snus & Snuff sales grew +5% (operating margin was up +260bp) being positively impacted by lower destocking effects (however, SM lost some 0.6% market share in Sweden and -3.8% in Norway). Other tobacco products’ performance was relatively stable (sales up +7%, but the margin was down by 90bp due to weak chewing tobacco and some more intensive compet
04 May 2016
Q1: Good start to the year driven by better than expected snus results
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Q1: Good start to the year driven by better than expected snus results
- Published:
04 May 2016 -
Author:
Anna Zyniewicz -
Pages:
2
SM reported its Q1 results. Sales were up +6% (+7% on an organic basis). The operating profit margin was up +70bp. Results by division: Snus & Snuff sales grew +5% (operating margin was up +260bp) being positively impacted by lower destocking effects (however, SM lost some 0.6% market share in Sweden and -3.8% in Norway). Other tobacco products’ performance was relatively stable (sales up +7%, but the margin was down by 90bp due to weak chewing tobacco and some more intensive compet