Cottonsoft makes small profit in 2013 after FX loss

Wed, 09 Jul 2014

By Pam Graham July 10 (BusinessDesk) – Cottonsoft, the maker of Tuffy paper towels and Kiwisoft toilet tissue, made a small profit in 2013 after booking a sizeable foreign exchange loss. The company which imports paper and manufactures it into a range of consumer products reported a profit of $57,000 in the year to Dec. 31, 2013 compared to a loss of $1.05 million in 2012. Revenue rose to $82.2 million from $77.2 million a year earlier. The notes to the accounts show a $1.23 million net foreign exchange loss in 2013 compared to a $1.11...

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