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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C., 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
For the month of October, 2000
SPARKLING SPRING WATER GROUP LIMITED
19 FIELDING AVENUE, DARTMOUTH, NS, CANADA B3B 1C9
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(Address of principal executive offices)
[Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F]
Form 20-F X Form 40-F
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[Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3 - 2(b) under the Securities Exchange Act of
1934.]
Yes No X
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On October 3, 2000, Sparkling Spring Water Group Limited issued a press release
announcing expectation of record revenue and customer growth in the third
quarter.
Exhibit I - Sparkling Spring Water Group Limited press release dated October 3,
2000 announcing expectation of record revenue and customer growth in
the third quarter.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Sparkling Spring Water Group Limited
By: /s/ David M. Arnold
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Name: David M. Arnold
Title: Vice President Finance, Treasurer
Date: October 4, 2000
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EXHIBIT I
PRESS RELEASE (For Immediate Release) October 3, 2000
SPARKLING SPRING EXPECTS RECORD
REVENUE, CUSTOMER GROWTH,
IN THE THIRD QUARTER
(ALL CURRENCY AMOUNTS IN US$)
DARTMOUTH, N.S. ---- Sparkling Spring Water Group Limited announced today that
it expects to report record revenue and net customer growth in its third quarter
ending September 30. The Company also expects positive income for the quarter as
declines in interest expense due to its currency hedge have more than offset
shortfalls in EBITDA caused by the weak Pound, high fuel prices and increased
sales expenses resulting from the increased customer growth.
Excluding business acquisitions, the Company added over 8,500 net new customer
locations in the quarter. Including acquisitions, approximately 13,000 customer
locations were added increasing the total customer location base to over 184,000
up from 158,000 at the end of the year ago quarter. Revenue is expected to be up
approximately 10% over the year ago quarter. Although the Company expects EBITDA
in the third quarter to be about equal to that achieved in the prior year, the
negative impact on EBITDA from increased distribution and selling costs, and
steep decline in the Pound was more than offset by significantly lower interest
expense and should result in positive income for the quarter.
"I am especially encouraged by our return to strong net rental customer growth
in the third quarter. The incremental volume from our increased customer base
should help improve our operating performance next year," said Mr. Stewart E.
Allen, President.
The Company also announced that in September it had exchanged its Pound Swap for
a similar sized Canadian Dollar swap realizing over $4 million in gross proceeds
that it has used to reduce borrowings on its bank operating line.
Sparkling Spring is a leading producer and distributor of bottled water to the
home and office segment. The Company does business as "Nature Springs" in
England, "Water at Work" in Scotland, "Sparkling Springs" in the Atlantic
Provinces of Canada, "Canadian Springs" in British Columbia, Canada, "Cool
Spring", "Sparta" and "Rocky Mountain Springs" in Alberta, Canada and in the
United States, "Cullyspring" and "Crystal Springs" in Washington and "Crystal
Springs" in Oregon.
The statements contained in this release that are not historical facts are
forward-looking statements. These forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially from those in
such statements. The results could be affected by, among other things, general
business conditions, the impact of competition, weather, the seasonality of the
Company's business, the ability to obtain financing, interruption in the
availability of water from the Company's water sources or fuel to required to
deliver the Company's products, government regulations, labor relations and
currency fluctuations. Investors also should consider other risks and
uncertainties described in further detail in documents filed by the Company with
the Securities and Exchange Commission.
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CONTACT:
K. DILLON SCHICKLI
c/o C.F. Capital Corporation
970-926-4826
970-926-4827 Fax
