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Scandinavian Tobacco profit misses consensus by 19.3% in Q3

Scandinavian Tobacco Group A/S said its normalized net income for the third quarter came to 1.86 Danish kroner per share, compared with the S&P Capital IQ consensus estimate of 2.30 kroner per share.

EPS rose 29.8% year over year from 1.43 kroner.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 188.4 million kroner, a gain of 32.3% from 142.4 million kroner in the year-earlier period.

The normalized profit margin increased to 9.5% from 8.2% in the year-earlier period.

Total revenue totaled 1.74 billion kroner, compared with 1.74 billion kroner in the prior-year period, and total operating expenses fell from the prior-year period to 1.42 billion kroner from 1.48 billion kroner.

Reported net income rose 9.2% from the prior-year period to 152.2 million kroner, or 1.50 kroner per share, from 139.4 million kroner, or 1.40 kroner per share.

As of Nov. 3, US$1 was equivalent to 6.71 Danish kroner.