US/CANADA: Cott Corporation continues turnaround in Q2

By just-drinks.com editorial team | 27 July 2009

Cott Corporation continued its strong start to the year with a healthy set of second quarter results today (27 July).

The private label soft drinks producer saw operating profits in the three months to the end of June soar to US$34.3m, compared to $5.3m in the corresponding period a year earlier. Net profits followed suit, leaping to $33.7m from a loss a year ago of $1.8m. Sales in the quarter, slowed, however, by 5.9% to $438.8m.

For the first six months of 2009, operating profits hit $56.6m, from a loss in H1 2008 of 6.9m, with net profits totalling $53.6m against a loss of $232.1m. Sales dipped to $805.8m against $856.2m.

"We are pleased with our second quarter results which were driven by the steady improvement of our North American operations and a stronger volume performance in our UK business," said Jerry Fowden, Cott's CEO. "We also benefited from the improved US carbonated soft drink category performance and a favourable tax benefit in the quarter."

For the official statement from Cott Corp, click here.

An update, with further comments following the company's webcast, appears here.

Sectors: Soft drinks, Water

Companies: Cott