20:38:59 EDT Fri 03 May 2024
Enter Symbol
or Name
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CA



KP Tissue Inc
Symbol KPT
Shares Issued 9,968,337
Close 2024-03-13 C$ 8.89
Market Cap C$ 88,618,516
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Globe says KP Tissue continues to add assets

2024-03-13 08:47 ET - In the News

The Globe and Mail reports in its Wednesday, March 13, edition that last week, KP Tissue posted record revenue and adjusted earnings for 2023. The Globe's Jennifer Dowty writes that yet the share price has been under pressure. KP head Dino Bianco says: "We need to continue to drive our growth curve. We spent over a billion dollars in the last couple of years, so being able to continue to drive sales to utilize those assets is going to be critical." Mr. Bianco says: "We've just added a billion dollars of assets. We put two new facial lines in. We're putting a new paper machine in -- that's going to be a full-size machine that will start up in quarter four of this year. We put in a new bathroom tissue line earlier in 2023. We continue to add assets." He adds: "The beauty of our company is we have every size, every format. We have the entry-level tissue right up to the premium end. We have brands, we have private label, so we have a fairly good diversification strategy that helps us -- it doesn't totally offset it. Last year, we did lose share when consumers traded down, but it could have been a lot worse if we were only a branded company. And this year, we're building share through investments and managing price gaps."

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