CANADA/US: Cott Corp see FY profits jump
By James Wilmore | 15 February 2013
- 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.
Expert analysis
Cott Corporation (BCB) - Financial and Strategic SWOT Analysis Review
Cott Corporation (Cott) is a non-alcoholic beverage company based in Canada. It is also engaged in the retailing of branded soft drinks. Product portfolio of the company includes carbonated soft drinks, clear and flavored water, juice based products, bottled water, energy drinks and ready to drink teas. Cott sells and markets its products under various brand names such as Cott, Red Rain, Orient Emporium Tea Co., Stars & Stripes, Vess, Vintage, So Clear, Shanstar, Harvest Classic, Chadwick Bay, Golden Crown, Emerge, Red Rooster, Carters, Ben Shaws, and RC. The company principally operates in the US, the UK, Canada and Mexico. Cott is headquartered in Tampa, Florida, the US.
Sectors: Soft drinks
Companies: Cott
View next/previous articles
15 Feb 2013 -Currently reading -
CANADA/US: Cott Corp see FY profits jump
Related research
Cott Corporation in Soft Drinks - World
Cott saw sales rebounded slightly in 2009-2010 following a poor year in 2008-2009. The acquisition of Cliffstar in the US in 2010 is hoping to give Cott a balanced portfolio and ease the potential impact of Wal-Mart’s withdrawal of the exclusive supp...
Cott Corporation in Soft Drinks (World)
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-Cola and PepsiCo engage in aggressive discounting ...
Carbonated Soft Drinks in Canada
Carbonated Soft Drinks in Canada industry profile provides top-line qualitative and quantitative summary information including: market size (value 2007-11, and forecast to 2016). The profile also contains descriptions of the leading players including...
Related articles
just For Subscribers - The week in drinks
Here are the ten most viewed, subscriber-only items on just-drinks this week:
Analysis - Cott Corp must wait for EBITDA growth
Cott Corp will have to wait until next year for its earnings to start heading north again, an analyst has warned.
There are currently no comments on this article
Be the first to comment on this article