November 2, 2011 / 12:28 PM / 7 years ago

UPDATE 1-Cott profit jumps on N America, UK growth

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Nov 2 (Reuters) - Canadian soft drink maker Cott Corp’s third-quarter profit more than doubled, driven by higher volumes in North America, UK and Mexico.

Net income rose to $16 million, or 17 cents a share, from $6 million, or 7 cents a share, a year ago.

Excluding special items, its profit was 22 cents a share.

Revenue for the company, which makes private-label soft drinks for retailers like Wal-Mart Stores Inc , rose 26 percent to $611.3 million.

Analysts on average had expected earnings of 18 cents a share, on revenue of $589.9 million, according to Thomson Reuters I/B/E/S.

Margins were, however, squeezed by higher commodity costs, the company said.

Cott shares closed at C$7.04 on Tuesday on the Toronto Stock Exchange. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Gopakumar Warrier)

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