August 3, 2012 / 12:32 PM / 5 years ago

Soft drink maker Cott's profit falls 5 percent

(Reuters) - Canadian soft drink maker Cott Corp (BCB.TO) (COT.N) said profit fell 5 percent as lower sales volumes offset a rise in average price per case.

Net income fell to $25.1 million, or 26 cents per share, for the second quarter from $26.5 million, or 28 cents per share, a year earlier.

Cott operates beverage bottling plants in the United States, Canada, Mexico and the United Kingdom.

Filled beverage case volumes fell more 9 percent to 240 million as Cott exited certain packaged water business.

Gross margin rose marginally to 14.7 percent in the quarter due to an increase in average price per case.

Revenue fell 2 percent to $626 million.

Cott’s shares, which have risen 30 percent so far this year, closed at C$8.50 on Thursday on the Toronto Stock Exchange.

Reporting by Ankur Banerjee in Bangalore

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