Carbonated drink maker Cott Corp. nearly tripled its third-quarter profit, as the soft drink and beverage maker’s revenue increased by 26 per cent over the same time last year with the help of a recent acquisition.
Cott’s net income, reported in U.S. dollars, was $16-million or 17 cents per share, up from $6-million or 7 cents per share in the third quarter of 2010.
Adjusted net income, which excludes the acquisition of private juice maker Cliffstar Corp. and integration expenses, was $21-million or 22 cents per share.
Cliffstar was acquired during the third quarter of 2010.
It contributed $73-million to Cott Corp.’s revenue in the third quarter of this year. Cott’s overall revenue for the three months that ended Oct. 1 increased to $611-million from $486.9-million in the year-earlier period.
Cott is the world’s largest producer of private-label beverages, including soft drinks, juice and water. It has bottling plants in the United States, Canada, Mexico and the United Kingdom.