News reports were constantly covering empty store aisles where toilet paper used to be found, as people bought and horded as many rolls as they could carry (or were allowed to carry as stores were forced to ration their supply).
Even though preparations are being made to ease lockdown restrictions, many stores are still without stock and this demand has been reflected in another kind of stock – shares in
KP Tissue Inc. (TSX: KPT).
KP is the name behind such brands as Cashmere, Purex, SpongeTowels, Scotties and White Swan in Canada, as well as White Cloud in the US.
On Friday, the company reported that its revenue increased by
$24.1 million (6.9%) to $375.1 million in Q1 2020, compared to $351 million in Q1 2019. Q1 2020 revenue increased by $50.2 million (15.5%).
KP Tissue Chief Executive Officer, Dino Bianco stated –
“We saw increased demand in all our categories as consumers stocked up and used more product at home given work from home mandates and increased hygiene, particularly in paper towels and facial tissue.”