Canadian Vending

Products Snacks
Soft drink sales continue to be flat


July 31, 2008
By Cam Wood


Topics

drinksNEWS HIGHLIGHT

Soft drink sales continue to be flat
Cott Corp. has reported a second-quarter loss
of 1.8 million dollars US, down from year-ago earnings of 4.7 million dollars, as
revenue for the world's largest maker of store-brand soft drinks
declined 6.4 per cent to 466.5 million dollars.

Cott Corp. has reported a second-quarter loss of US$1.8 million, down from year-ago earnings of $4.7 million, as revenue for the world's largest maker of store-brand soft drinks declined 6.4 per cent to $466.5 million.

Cott, reporting in U.S. dollars, said Thursday that the revenue decline, from $498.5 million a year ago, was driven by an 11.1 per cent volume drop in North America, partly offset by a 5.3 per cent rise in selling prices.

Advertisment

Cott's total volume was down 9.1 per cent to 215.3 million eight-ounce equivalent cases, "primarily due to continued decline in demand for carbonated soft drink products."

Operating profit for the quarter was $5.3 million, off from $6.2 million a year ago. The latest quarter included $7.1 million of restructuring charges and asset writedowns, compared with $9.1 million in the second quarter of last year.

During the latest quarter, Cott announced a plan to refocus its North American operations on its core store-label business.

"Consumers are feeling the impact of higher prices on food and fuel; these developments traditionally favour private-label products like Cott's," commented David Gibbons, Cott's interim CEO.


Print this page

Related



Leave a Reply

Your email address will not be published. Required fields are marked *

*