Cott Corporation has announced its revenue for the third quarter of 2017 has increased by 22% to $581 million compared to $477 million experienced in the corresponding quarter last year.
The firm has said that the revenue increase was driven primarily by the additions of Eden Springs and S&D Coffee and Tea.
The company also announced that gross profit from continuing operations increased 18% to $293 million compared to $248 million.
Cott’s chief executive officer Jerry Fowden said: “I was pleased to see the solid top and bottom line performance across our key business platforms during the quarter. Comparable revenue growth of over 3% in our Route Based Services segment and 7% in our Coffee, Tea and Extract Solutions segment illustrates the shape and potential of new Cott.
“We believe our outlook for driving organic growth and capturing synergies, alongside executing our tuck-in acquisition strategy puts us on a clear path to generating $150 million of adjusted free cash flow by the end of 2019.”
As reported back in July, the firm have said that the sale of Cott’s traditional business is said to be on track to close near the end of 2017 with Refresco Group.
© FoodBev Media Ltd 2018
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