Verde AgriTech Plc (TSX: NPK, OTCMKTS: VNPKF) reported significant growth in its FY 2022 financial results, with revenues rising by 190% to $80,271,000 from $27,709,000 in FY 2021. Sales volume for its potassium products increased by 57% to 628,000 tonnes, and net profit soared by 405% to $17,804,000. The company’s gross margin improved to 78%. However, Q4 2022 presented challenges, including a 7% decline in sales volume and a net loss of $1,312,000, primarily due to external factors affecting the fertilizer market. Verde anticipates sales between 800,000 and 1,200,000 tonnes for FY 2023, with revenue projected at $78,135,000 to $115,332,000.
Verde AgriTech Ltd (OTCMKTS: VNPKF) reported impressive Q3 2022 results, with revenue soaring by 156% to C$27.27 million, compared to C$10.65 million in Q3 2021. The net profit also surged by 103% to C$6.46 million. The company's sales volume for its potassium products increased by 23% to 189,548 tonnes. Gross margin improved slightly to 78%. Notably, Verde’s Plant 2 achieved its production capacity, expected to drive future growth. However, operational constraints limited order fulfillment during the quarter.