American Philip Morris International, with brands such as Zyn and Marlboro in its portfolio, is raising its profit forecast. Sales successes for alternative products to cigarettes – such as the tobacco-free snus brand Zyn and the smoke-free tobacco product Iqos – contribute to the development.
The adjusted profit per share is expected to increase by 15 percent for the full year, excluding currency effects, according to Philip Morris. The previous forecast was 13 percent.
For the third quarter, Philip Morris reports an adjusted profit per share of 1.91 dollars. The average analyst forecast was 1.81 dollars per share, according to Bloomberg. The adjusted operating result was 4.2 billion dollars, compared to expected 3.9 billion.
Revenues for the third quarter were 9.9 billion dollars, compared to expected 9.7 billion.
Philip Morris acquired Swedish Swedish Match two years ago – which was motivated, among other things, by the good prospects for Zyn.
