CANADA/US: Cott Corp see FY profits jump
- 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 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.
Cott is the world’s largest supplier of private label products in soft drinks. Its primary strength is North America, however it has faced a challenging environment particularly in carbonates as Coca-...
Carbonated Soft Drinks in the United States industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016). The profil...
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