Cottonsoft makes loss in 2011, receives capital injections

Tue, 09 Oct 2012

By Pam Graham Oct. 10 (BusinessDesk) – Cottonsoft, the maker of Tuffy paper towels and Kiwisoft toilet tissue, has received capital injections from its foreign owner after breaching its bank covenants in 2011. The company didn't pay a dividend to Asia Pulp and Paper in the 2011 calendar year in a period which it reported an operating loss of $2.63 million. That was wider than the loss of $1.51 million the previous year, mostly because of an increase in operating and distribution costs. Revenue rose to $80.57 million from $72.83 million the...

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