TORONTO - Cott Corp. (TSX: BCB) says its fourth-quarter results showed positive effects from its diversification efforts.
The North American carbonated drink producer had US$19 million of net income, US$34 million of adjusted net income and US$544 million of revenue, all higher than a year earlier.
Its adjusted earnings were 37 cents per share, up from four cents or US$4 million a year earlier. Net income was 19 cents per share, which compared with a loss of 12 cents per share or US$11 million in the fourth quarter of 2013.
Revenue was up 13 per cent from US$482 million in the fourth quarter of 2013, bolstered by the addition of U.K.-based Aimia Foods at the end of May, U.S.-based DS Services in mid-December, and growth in North American contract manufacturing.
Cott now produces many types of beverages including carbonated drinks sold under private labels, juices, water, hot chocolate, coffee and ready-to-drink tea. The DS Service acquisition also expands its distribution channel to include home and business delivery of bottled water and coffee in the United States.