“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 Cott’s CEO, Jerry Fowden. “We also benefited from the improved US carbonated soft drink category performance and a favourable tax benefit in the quarter.
“We’ll continue to support our customers’ efforts to increase private-label penetration, while executing our plan to reduce operating costs and optimise capital expenditures. Our focus remains on improving year-over-year cash flow and reducing our level of debt, thereby allowing us to strengthen our position as a low-cost, high service supplier. While our performance in the first half of 2009 has been encouraging, we’re mindful of challenges that may still lie ahead, such as heavy summer promotions from the national brands, higher commodity costs compared to the first half of 2009, and a changing competitive landscape.”
Source: Cott Corporation
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