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COTT CORPORATION REPORTS EARNINGS FOR SECOND QUARTER ENDED JULY 31, 1993

 TORONTO, Sept. 14 /PRNewswire/ -- Cott Corporation (NASDAQ-NMS: COTTF) today announced its results for the second quarter ended July 31, 1993, as follows:
 COTT CORPORATION
 Statement of Earnings Information
 Three months Six months
 7/31/93 7/25/92 7/31/93 7/25/92
 (Can. $000s) (Can. $000s)
 Sales 198,084 89,408 327,544 140,470
 Gross profit 34,101 15,330 58,309 24,523
 Earnings from
 operations 20,374 7,625 31,587 11,840
 Income taxes 8,440 3,234 12,930 5,017
 Minority
 interest 1,408 429 2,397 788
 Equity on net
 earnings of long-
 term investments 126 153 143 153
 Net earnings 10,652 4,115 16,403 6,188
 Earnings per
 common share
 Basic .19 .08 .30 .13
 Fully diluted .19 .08 .29 .12
 Earnings per
 common share in
 conformity with
 U.S. GAAP
 Primary .18 .07 .28 .12
 Fully diluted .18 .07 .28 .11
 Balance Sheet Information
 (In thousands of Canadian dollars)
 7/31/93 7/25/92
 Assets:
 Cash 7,150 --
 Accounts receivable 82,978 42,355
 Inventories 66,433 37,849
 Prepaid expenses 3,372 1,801
 Long-term investments 7,336 4,353
 Capital assets 53,687 42,778
 Goodwill 36,957 23,874
 Other assets 16,401 11,344
 Total 274,314 164,354
 Liabilities and shareholders' equity:
 Bank loan -- 3,648
 Accounts payable and accrued liabilities 88,121 60,563
 Income taxes payable 8,377 1,240
 Term debt 23,213 19,080
 Due to minority shareholders 1,168 1,605
 Deferred revenue 1,382 3,574
 Deferred income taxes 1,071 2,998
 Minority interest 5,390 4,755
 Shareholder's equity 145,592 66,891
 Total 274,314 164,354
 Net earnings for the second quarter were 159 percent higher than in the similar period in the prior year, primarily as a result of a 122 percent increase in sales. The majority of the sales growth came from increased sales to U.S.-based retailers which represented 60 percent of total dollar sales in the quarter. Canadian soft drink sales for the quarter were up 53 percent over the second quarter of fiscal 1993.
 In August 1993, the company completed the sale of 3 million common shares resulting in gross proceeds of approximately $120 million. At the quarter end, on a proforma basis, including the net proceeds of the common share issue, working capital was approximately $177 million and common shareholders' equity was approximately $260 million.
 -0- 9/14/93
 /CONTACT: Fraser D. Latta, vice chairman and chief operating officer of Cott, 416-672-1900/
 (COTTF)


CO: Cott Corporation ST: Ontario IN: FOD SU: ERN

CK -- NY076 -- 1907 09/14/93 16:16 EDT
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Date:Sep 14, 1993
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