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Cott Reports Second Quarter 2019 Results

Nachrichtenquelle: PR Newswire (engl.)
08.08.2019, 12:45  |  468   |   |   

(Unless stated otherwise, all second quarter 2019 comparisons are relative to the second quarter of 2018; all information is in U.S. dollars.)

TORONTO, Ontario and TAMPA, Florida, Aug. 8, 2019 /CNW/ - Cott Corporation (NYSE:COT; TSX:BCB) today announced its results for the second quarter ended June 29, 2019.

"We are pleased with our top and bottom line performance during the quarter. Both our Route Based Services and our Coffee, Tea and Extract Solutions segments delivered 6% adjusted revenue growth for the quarter. In addition,  the total company delivered adjusted EBITDA growth for the quarter," commented Tom Harrington, Cott's Chief Executive Officer. "We remain confident in our outlook for 2019 and 2020 as well as our ability to deliver long-term shareholder value," continued Mr. Harrington.

SECOND QUARTER 2019 GLOBAL PERFORMANCE

  • Revenue was flat at $604 million (increased 6% excluding the impact of foreign exchange, the divested Cott Beverages LLC business and the change in average cost of coffee) driven by organic growth within both the Route Based Services and the Coffee, Tea and Extract Solutions reporting segments, as well as the benefit of acquisitions, including Mountain Valley. Revenue growth by segment in the quarter is tabulated below:

Consolidated





Revenue Bridge




∆%

2018 Q2 Revenue

$

603.6



Divested Cott Beverages LLC business


-21.9



2018 Q2 adjusted revenue

$

581.7



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