(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 (NYSE:PM) 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 of 2.47 billion crowns.
Sales in its Smokefree unit rose 30% in the quarter. The unit includes 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)