• FY net profits up by 27% to US$48m
  • Net sales fall by 4% to $2.3bn
  • Operating profits rise by 9% to $109.7m
  • Declares quarterly dividend of CAD0.06 per share
Cott saw profits grow in 2012

Cott saw profits grow in 2012

Cott Corporation has reported a healthy rise in full-year profits despite a drop in sales in 2012.

Net profits jumped by 27% to US$48m in the 12 months to the end of December, the Ontario-headquartered CSD group said today (15 February). Sales in the period fell by 4% to $2.3bn.

Operating profits were up by 9% to $109.7m in the 12 months.

Last year the company reported a 31% drop in full-year net profits.

Group volumes in the full-year fell by 9.7% to 867m cases due to, the company said, a "decision to exit certain low-gross-margin business in North America and the UK as well as a continued general decline in the North American CSD and juice categories."

In Q4, the company registered a profit of $2.3m, compared to a loss of $11.9m in 2011's final quarter. Sales in the three months fell by 6% to $517.2m. The period included a tax benefit of around $1m, whereas the prior year the group incured a $1m tax expense and some impairment charges.

Cott also declared a quarterly dividend of CAD0.06 per share, to be paid on April 5 to shareholders of record on March 20.

For the company's full statement, click here.