Verde Announces Q4 and FY 2023 Results
SINGAPORE, March 28, 2024 (GLOBE NEWSWIRE) -- Verde AgriTech Ltd (TSX: “NPK”) ("Verde” or the “Company”) announces its financial results for the full year ended December 31, 2023 (“FY 2023”) and the fourth quarter 2023 (“Q4 2023”), as audited by Ernst & Young (“EY”). The FY 2023 audited results were consistent with the interim results announced by the Company on January 26, 2024:
- Verde's revenue amounted to $37.9 million in FY 2023, a 53% decrease compared to the previous year, when potash prices reached record levels.
- The Company reported a net loss of $6.0 million in FY 2023, compared to a net profit of $17.8 million in FY 2022.
- Canadian dollar devaluated by 7% versus Brazilian Real in FY 2023 compared to FY 2022.
- The Company will host a conference call on Tuesday, April 02, 2024, at 10:00 am Eastern Time, to discuss Q4 and FY 2023 results and provide an update.