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Analysis - Cott Beverage volumes unlikely to rally in Q4

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An analyst has predicted Cott Beverage's volumes will end the year down lower that expected after it posted sharp YTD declines in its North American unit.

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In a note on Friday (1 November), Stifel's Mark Swartzberg said Cott will post an estimated 9% drop in 2013 volumes instead of a previous estimate of a 5.5% drop. However, he said full-year volumes losses next year will narrow to a 4% fall.

Cott delivered a disappointing set of year-to-date results on Friday. While UK volumes remained stable, volumes in North America, which account for around three-quarters of Cott's total, dropped by 11%. Overall, volumes were down by 9%. Net profits for the nine-month period fell by 34% and net sales dipped by 13%.

Swartzberg also said that a step-up in promotions that has squeezed margins for Cott's private label market in the US is likely to continue for at least the next 12-18 months.


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