Cott Corp Back In The Black In First Quarter

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Canadian soft drinks manufacturer Cott Corp has swung into profit for the first quarter of 2009, indicating a long awaited turnaround may be finally on the cards. Over the period Cott, which specialises in private label drinks, generated net profits of US$20.8mn, compared to a loss of US$20.9mn in Q408. Encouragingly, the firm also reported increased sales volumes in the core North American market, although sales in the UK fell sharply. The good performance in Q1 and the prospect of better things to come helped boost the company's share price by 25% on the day the results were