Sales up Canadian tissue paper specialist KP Tissue (KPT) has posted improved financial results for the fourth quarter of 2023 and the full year.
For 2023, the business reported revenues of some $1.873 billion which represented an increase of 11.4 percent compared with a year earlier, KPT said in a statement.
“We are pleased with our financial results in fiscal 2023, highlighted by record sales of $1.9 billion and record Adjusted EBITDA of $238.6 million driven by many positive factors,” said Dino Bianco, KP Tissue’s Chief Executive Officer. “Overall, our business benefited from robust volume, positive margin management with continued volatile costs, and strong operational efficiency across our network.”
Kruger Products is “Canada's leading manufacturer of quality tissue products for the Consumer market … and the Away-From-Home (AFH) market and continues to grow in the U.S. Consumer tissue business with the White Cloud brand and premium private label products. KPT currently holds a 12.9% interest in Kruger Products,” according to the statement.