{"id":468317,"date":"2021-03-31T07:03:21","date_gmt":"2021-03-31T11:03:21","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=468317"},"modified":"2021-03-31T07:03:21","modified_gmt":"2021-03-31T11:03:21","slug":"verde-delivers-97-gross-profit-growth-with-62-gross-margin-for-2020-and-first-full-year-profit","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/verde-delivers-97-gross-profit-growth-with-62-gross-margin-for-2020-and-first-full-year-profit\/","title":{"rendered":"Verde Delivers 97% Gross Profit Growth With 62% Gross Margin for 2020, and First Full Year Profit"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwalignr { text-align: right; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwleftsingle { border-left: solid black 1pt }\n.bwlistdisc { list-style-type: disc }\n.bwpadl0 { padding-left: 0px }\n.bwpadl1 { padding-left: 5px }\n.bwpadr0 { padding-right: 0px }\n.bwrightsingle { border-right: solid black 1pt }\n.bwrowaltcolor0 { background-color: #cceeff }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwtopsingle { border-top: solid black 1pt }\n.bwuline { text-decoration: underline }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignt { vertical-align: top }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Verde Delivers 97% Gross Profit Growth With 62% Gross Margin for 2020, and First Full Year Profit<\/b><\/p>\n<p class=\"bwalignc\">\n(All figures are in Canadian dollars, unless stated otherwise. Average exchange rate in 2020: C$1.00 = R$3.84)\n<\/p>\n<p>BELO HORIZONTE, Brazil&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<b>Verde AgriTech Plc<\/b> (TSX: \u201cNPK\u201d) (OTCQB: \u201cAMHPF\u201d) (&#8220;<b>Verde<\/b>\u201d or the \u201c<b>Company<\/b>\u201d) is pleased to announce its financial results for the fourth quarter (\u201c<b>Q4 2020<\/b>\u201d) and full year ended December 31, 2020 (\u201c<b>FY 2020<\/b>\u201d).\n<\/p>\n<p><b>Q4 2020 Financials<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nSales increased by 76% with 56,585 tonnes sold, compared to 32,221 tonnes in the fourth quarter of 2019 (\u201c<b>Q4 2019<\/b>\u201d).\n<\/li>\n<li>\nGross margin increased to 59% in Q4 2020, compared to 36% in Q4 2019.\n<\/li>\n<li>\nThe Company recognised revenue of $2,209,000, an increase of 48% compared to $1,491,000 in Q4 2019 despite a 14% decline in the price of potash delivered to Brazil.\n<\/li>\n<li>\nIn Brazilian Real (\u201c<b>R$<\/b>\u201d), revenue increased by 92%, to R$8,489,000 compared to R$4,429,000 in Q4 2019.\n<\/li>\n<li>\nThe Company recorded a net loss of $192,000, compared to a net loss of $11,000 in Q4 2019.\n<\/li>\n<li>\nCash held by the Company increased by 236%, to a total of $2,237,000, compared to $666,000 in Q4 2019.\n<\/li>\n<\/ul>\n<p><b>FY 2020 Financials<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nSales increased by 103% with 243,707 tonnes sold, compared to 119,809 tonnes in the year ended December 31,2019 (\u201c<b>FY 2019<\/b>\u201d).\n<\/li>\n<li>\nGross margin increased to 62% in FY 2020, compared to 48% in FY 2019.\n<\/li>\n<li>\nThe Company recorded a gross profit of $5,652,000, compared to a $2,863,000 gross profit in FY 2019, an increase of 97%.\n<\/li>\n<li>\nRevenue increased by 52%, with a total of $9,167,000, compared to $6,029,000 in 2019, despite a 27% decline in the price of potash delivered to Brazil.\n<\/li>\n<li>\nIn R$, revenue increased by 97%, to R$35,232,000, compared to R$17,913,000 in FY 2019.\n<\/li>\n<li>\nRevenue per tonne was $38, compared to $50 in FY 2019. The Product price is based on the current US Dollar (\u201c<b>US$<\/b>\u201d) Potassium Chloride price. Therefore, the reduction of the average revenue per tonne was mainly due to the decline of the Potassium Chloride CFR (Brazil) price.\n<\/li>\n<li>\nProduction costs were $14, compared to $26 in FY 2019. The production cost reduction of 45% was due to enhanced production efficiency and the devaluation of the Brazilian Real by 29% against the Canadian Dollar.\n<\/li>\n<li>\nThe Company recorded an operating profit of $1,126,000 and net profit of $550,000 after taxes, compared to an operating loss of $784,000 and net loss of $1,107,000 after taxes in FY 2019. 2020 was therefore the first year that the Company recorded a net profit.\n<\/li>\n<\/ul>\n<p><b>Subsequent Events<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nIn February 2021, the Company has been certified as a Great Place to Work\u00ae (&#8220;<b>GPTW<\/b>&#8220;). The GPTW acknowledgment is an annual certification granted to companies that have most of its employees with a positive perception of its work environment.\n<\/li>\n<li>\nIn March 2021, 1,385,057 warrants issued pursuant to the March 2019 private placement were exercised generating $1,385,057 proceeds for the Company.\n<\/li>\n<\/ul>\n<p>\n\u201cThanks to Verde&#8217;s team, we achieved both our sales and revenue targets for 2020. This continues our trend of strong operating and financial performance, as aligned with our strategic plan and financial objectives, as we continue to pursue development and growth opportunities in our target markets,\u201d said Cristiano Veloso, Verde\u2019s Founder, President, CEO and Chairman.\n<\/p>\n<p>\n\u201cWe are very proud of our employees\u2019 hard work during the year of 2020 for their dedication and professionalism during these challenging times. The Company remains committed to operating safely and abiding by the most stringent COVID-19 health and safety protocols so that our operations can continue to perform well despite all the challenges,\u201d Mr Veloso concluded.\n<\/p>\n<p><b>2021 Guidance<\/b><\/p>\n<p>\nAs stated in the press release disclosed on November 15, 2020, the Company\u2019s target for 2021 is to achieve R$50 million revenue in 2021. Product sales target for full year 2021 is 350,000 tonnes, which represents 44% growth, compared to FY 2020 sales.\n<\/p>\n<p><b>Pre-Feasibility Study:<\/b><\/p>\n<p>\nVerde\u2019s new product BAKS\u00ae will potentially enable the Company to increase its share of the Brazilian potash and sulfur markets, with further upside from other nutrients.\u200b\n<\/p>\n<p>\nAs stated in the press release filed on SEDAR on March 01, 2021, a new Pre-Feasibility Study (\u201c<b>PFS<\/b>\u201d) will be elaborated by the Company in 2021. It is expected to be finished by the end of the year.\n<\/p>\n<p>\nThe new PSF has the objective of correctly assessing sulfur\u2019s potential market in Brazil and the opportunities that it opens up, as well as updating the information disclosed in the NI 43-101 Pre-Feasibility Technical Report Cerrado Verde Project filed by the Company on SEDAR in 2017, which was based on the following assumptions:\n<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nPotassium Chloride (\u201cKCl\u201d) price of US$250 CIF Brazil as reference for the product pricing, versus a current average of US$312 price (Acerto Limited Report).\n<\/li>\n<li>\nUS$-R$ exchange rate of US$1.00 = R$3.28, versus a current rate of US$1.00 = R$5.77<sup>1<\/sup>.\n<\/li>\n<\/ul>\n<p><b>Verde\u2019s Key Objectives for 2021:<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nAchieving 10% of the Company\u2019s total sales as BAKS\u00ae.\n<\/li>\n<li>\nLaunching a new technology in the second quarter of 2021.\n<\/li>\n<li>\nGetting ISO 9001 and ISO 14001 certified.\n<\/li>\n<li>\nObtaining the Mining Concession for 2.5M tonnes per year (\u201c<b>tpy<\/b>\u201d) for Mine Pit 2, a milestone in our path to achieving the target of 25M tonnes annual production, which represents a NPV per share of $49.78, based on the previous SEDAR filed Pre-Feasibility Study<sup>2<\/sup> considering a KCl price of US$250, instead of US$312 currently negotiated.\n<\/li>\n<li>\nInitiating the construction of Plant 2, with the completion of the necessary infrastructure for its development, such as the plant&#8217;s power grid connection, access routes improvement and preliminary civil construction.\n<\/li>\n<\/ul>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwpadl0\" rowspan=\"1\" colspan=\"1\">______________________<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><sup>1<\/sup> As of March 29, 2021.<br \/>\n<br \/><sup>2<\/sup> Based on $2.607 billion NPV after tax divided by 50,364,858 shares outstanding as of December 31, 2020. Estimated Net Present Value after tax of US$1.99 billion, with 8% discount rate and Internal Rate of Return of 287% (see NI 43-101 Pre-Feasibility Technical Report Cerrado Verde Project, MG, Brazil, page 207). Currency exchange: US$1.00 = C$1.26.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><b>Selected Annual Financial Information<\/b><\/p>\n<p>\nThe table below summarizes Q4 and FY 2020 financial results compared to Q4 and FY 2019.\n<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>$\u2019000<\/b><\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Q4 2020<\/b><\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nQ4 2019\n<\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>FY 2020<\/b><\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nFY 2019\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Tonnes sold \u2018000<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>57<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n32\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>244<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n120\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nRevenue per tonne sold $\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>39<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n47\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>38<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n50\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nProduction cost per tonne sold $\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(16)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(30)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(14)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(26)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nGross Profit per tonne sold $\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>23<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n17\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>23<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n24\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nGross Margin\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>59%<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n36%\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>62%<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n48%\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nRevenue\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2,209<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n1,491\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>9,167<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n6,029\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nProduction costs\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(912)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(960)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(3,515)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(3,166)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Gross Profit<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>1,297<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>531<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>5,652<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>2,863<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Gross Margin<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>59%<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>36%<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>62%<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>48%<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSales and product delivery freight expenses\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(673)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(202)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(2,270)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(1,303)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nGeneral and administrative expenses\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(588)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(381)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(1,791)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(1,535)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Operating Profit\/(Loss) before non-cash events<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>36<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(52)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>1,591<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>25<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nShare Based and Bonus Payments \/ (Non-Cash Event) <b>*<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(18)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n113\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(425)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(787)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nDepreciation and Amortisation *\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(4)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(2)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(23)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(22)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLoss on disposal of plant and equipment *\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>&#8211;<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n&#8211;\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(17)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n&#8211;\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Operating Profit\/(Loss) after non-cash events<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>14<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>59<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>1,126<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(784)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCorporation tax**\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(79)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(41)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(330)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(186)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nInterest Income\/Expense\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(127)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(29)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(246)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(137)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Net Profit \/ (Loss)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(192) <\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(11)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>550<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(1,107)<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n* &#8211; Included in General and Administrative expenses in financial statements\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n** &#8211; The Company companies in Brazil are currently under \u201cpresumed profit\u201d taxation method, which is the most efficient method at this time. Under \u201cpresumed profit\u201d method, it is not possible to utilise prior period losses to reduce corporation tax. When the Company switches to \u201creal profit\u201d method, these losses can be utilised.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><span class=\"bwuline\">Q4 and FY 2020 compared with Q4 and FY 2019<\/span><\/p>\n<p>\nThe Company generated a net loss for Q4 2020 of $192,000, an increase of $181,000 compared to Q4 2019. The loss per share was $0.003, compared to zero for Q4 2019.\n<\/p>\n<p>\nFor FY 2020, the Company reported a net profit of $550,000 compared to a net loss of $1,107,000, an increase of $1,657,000 for the year. The increase was due to the continued growth of the Company. 2020 was the first year that the Company recorded a net profit.\n<\/p>\n<p><span class=\"bwuline\">Product Sales<\/span><\/p>\n<p>\nIn Q4 2020, the Company sold 56,585 tonnes, an increase of 76% in comparison to Q4 2019.\n<\/p>\n<p>\nFor FY 2020, the Company sold 243,707 an increase of 103% in comparison to FY 2019 as the Company\u2019s product continues to grow in the market.\n<\/p>\n<p><span class=\"bwuline\">Revenue<\/span><\/p>\n<p>\nRevenue from sales for Q4 2020 was $2,209,000 from the sale of 56,585 tonnes of the Product, at $39 per tonne sold. Average revenue per tonne was lower than Q4 2019 ($46 per tonne sold). The Product price is based on the current US$ Potassium Chloride price. Therefore, the reduction of the average revenue per tonne was mainly due to the decline of the Potassium Chloride CFR (Brazil) price, from US$290 per tonne in Q4 2019 to US$250 per tonne in Q4 2020 (Acerto Limited Report).\n<\/p>\n<p>\nFor FY 2020, total Revenue from sales was $9,167,000 an increase of 52% compared to FY 2019.\n<\/p>\n<p><span class=\"bwuline\">Production costs<\/span><\/p>\n<p>\nProduction costs include all costs directly from mining, processing, logistics from the mine to the factory and supply chain salaries, which are paid in R$. Cost per tonne for the quarter was $16 compared to $30 for the same period in 2019. The reduction of 46% was due to cost efficiency enhancement of 17% and as a result of devaluation of the R$ by 29% against the Canadian Dollar in Q4 2020 compared to Q4 2019.\n<\/p>\n<p>\nFor FY 2020, production costs per tonne were $14, compared to $26 in FY 2019, a reduction of 45%. This was due to cost efficiency improvements and the devaluation of the Brazilian Real against the Canadian Dollar.\n<\/p>\n<p><b>Sales Expenses<\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>CAD $\u2019000<\/b><\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Q4 2020<\/b><\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nQ4 2019\n<\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>FY 2020<\/b><\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nFY 2019\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSales and marketing expenses\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(195)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(57)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(1,137)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(932)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nProduct delivery freight expenses\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(478)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(145)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(1,133)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(371)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Total<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(673)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(202)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(2,270)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(1,303)<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><span class=\"bwuline\">Sales and marketing expenses<\/span><\/p>\n<p>\nSales and marketing expenses include sales and marketing salaries, the promotion of the Product such as fees paid to sales agents, marketing events, car rentals, travel within Brazil, hotel expenses and Customer Relationship Management (CRM) Software licenses. Expenses increased by $139,000 in Q4 2020 compared to Q4 2019 mainly due to additional sales and marketing staff to support the Company growth from an average of 13 employees in 2019 to an average of 32 employees in 2020, along with increased commissions paid to consultants.\n<\/p>\n<p><span class=\"bwuline\">Product delivery freight expenses<\/span><\/p>\n<p>\nProduct delivery freight expenses were $333,000 higher in Q4 2020 compared to the same quarter last year.\n<\/p>\n<p>\nFor FY 2020, the costs have increased by $762,000 compared to FY 2019 as the Company has increased significantly the volume sold as CIF (Cost Insurance and Freight), from 2% of total sales in 2019 to 13% in 2020.\n<\/p>\n<p><b>General and Administrative Expenses<\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>CAD $\u2019000<\/b><\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Q4 2020<\/b><\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nQ4 2019\n<\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>FY 2020<\/b><\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nFY 2019\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nGeneral administrative expenses\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(494)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(227)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(1,149)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(901)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLegal, professional, consultancy and audit costs\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(75)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(91)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(520)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(496)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nIT\/Software expenses\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(23)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(33)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(98)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(79)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTaxes and licenses fees\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(30)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(24)\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(59)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Total <\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(588)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(381)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(1,791)<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\"><b>(1,535)<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p><span class=\"bwuline\">General administrative expenses<\/span><\/p>\n<p>\nThese costs include general office expenses, rent, bank fees, insurance, foreign exchange variances and remuneration of the executives and administrative staff in Brazil. The costs have increased by $266,000 in Q4 2020 compared to Q4 2019. For FY 2020, the costs have increased by $248,000 compared to FY 2019 as they include management bonuses at the year end.\n<\/p>\n<p><span class=\"bwuline\">Legal, professional, consultancy and audit costs<\/span><\/p>\n<p>\nLegal and professional fees include legal, professional, consultancy fees along with accountancy, audit and regulatory costs. Consultancy fees are consultants employed in Brazil, such as accounting services, patent process, lawyer\u2019s fee and regulatory consultants.\n<\/p>\n<p>\nThe costs in Q4 2020 are comparable with Q4 2019 and for FY 2020, the figures were $24,000 higher than in FY 2019. This is due to increased consultancy support as the Company continues to grow.\n<\/p>\n<p><span class=\"bwuline\">IT\/Software expenses<\/span><\/p>\n<p>\nIT\/Software expenses include software licenses such as Microsoft Office and enterprise resource planning (ERP). In Q4 2020 expenses were $23,000, a decrease of $10,000 compared to the same period last year. For FY 2020, expenses were $98,000 an increase of $19,000 compared to FY 2019 due to increased third party computing services provided in Brazil.\n<\/p>\n<p><span class=\"bwuline\">Taxes and licences<\/span><\/p>\n<p>\nTaxes and licence expenses include general taxes, product branding and licence costs. In Q4 2020, expenses were credit $4,000 compared to $30,000 expense in Q4 2019. During Q4 2020, an amount of $15,000 was credited to licence costs for the reversal expenses which should have been capitalised in a previous quarter. For FY 2020, expenses were $24,000 compared to $59,000 in FY 2019, a decrease of $35,000. The decrease is a result of reduced general taxes.\n<\/p>\n<p><span class=\"bwuline\">Share Based and Bonus Payments\/ (Non-Cash Event)<\/span><\/p>\n<p>\nThese costs represent the expense associated with stock options granted to employees and directors along with non-cash bonuses paid to the board to exercise share options.\n<\/p>\n<p>\nThe amount for Q4 2020 was $18,000, compared to a credit of $113,000 in Q4 2019. The credit in Q4 2019 related to an over calculated share based payment charge in an earlier period.\n<\/p>\n<p>\nFor FY 2020, the charge was $425,000 compared to $787,000 in 2019. The decrease is a result of less options vesting in the year.\n<\/p>\n<p><b>Investors Newsletter<\/b><\/p>\n<p>\nSubscribe to receive the Company\u2019s monthly updates at: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fcloud.marketing.verde.ag%2FInvestorsSubscription&amp;esheet=52404522&amp;newsitemid=20210331005311&amp;lan=en-US&amp;anchor=http%3A%2F%2Fcloud.marketing.verde.ag%2FInvestorsSubscription&amp;index=1&amp;md5=77703cb97b7d6992732f936b24e98b45\">http:\/\/cloud.marketing.verde.ag\/InvestorsSubscription<\/a><\/p>\n<p>\nThe last edition of the newsletter can be accessed at: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fbit.ly%2FInvestorsNL-February2021&amp;esheet=52404522&amp;newsitemid=20210331005311&amp;lan=en-US&amp;anchor=http%3A%2F%2Fbit.ly%2FInvestorsNL-February2021&amp;index=2&amp;md5=81de13feb12974040c218bb8fa0f7074\">http:\/\/bit.ly\/InvestorsNL-February2021 <\/a><\/p>\n<p><b>Q4 and FY 2020 Results Conference Call<\/b><\/p>\n<p>\nThe Company will host a conference call on Wednesday, April 7, 2021 at 11:00 pm Eastern Time (4:00 pm Greenwich Mean Time), to discuss Q4 and FY 2020 results and provide an update. Subscribe using the link below and receive the conference details by email.\n<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Date:<\/b><\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwrightsingle bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nWednesday, April 7, 2021\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Time:<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n11:00 am Eastern Time (4:00 pm Greenwich Mean Time)\n<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwrowaltcolor0 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSubscription link:\n<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwrowaltcolor0 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fbit.ly%2FVerdeAgriTechQ4-FY-2020&amp;esheet=52404522&amp;newsitemid=20210331005311&amp;lan=en-US&amp;anchor=http%3A%2F%2Fbit.ly%2FVerdeAgriTechQ4-FY-2020&amp;index=3&amp;md5=44cda9e8c5d92b0a84a3e8f718539f8d\">http:\/\/bit.ly\/VerdeAgriTechQ4-FY-2020<\/a><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\nThe Company\u2019s full year and fourth quarter financial statements and related notes for the period ended December 31, 2020 are available to the public on SEDAR at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sedar.com&amp;esheet=52404522&amp;newsitemid=20210331005311&amp;lan=en-US&amp;anchor=www.sedar.com&amp;index=4&amp;md5=332df5510d0b49779c54120dc543f486\">www.sedar.com<\/a> and the Company\u2019s website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Finvestor.verde.ag%2F&amp;esheet=52404522&amp;newsitemid=20210331005311&amp;lan=en-US&amp;anchor=www.investor.verde.ag%2F&amp;index=5&amp;md5=b8ed605c6cc67765ca20b9e267b5e225\">www.investor.verde.ag\/<\/a>.\n<\/p>\n<p><span class=\"bwuline\">About Verde AgriTech<\/span><\/p>\n<p>\nVerde AgriTech promotes sustainable and profitable agriculture through the development of its Cerrado Verde Project. Cerrado Verde, located in the heart of Brazil\u2019s largest agricultural market, is the source of a potassium-rich deposit from which the Company intends to produce solutions for crop nutrition, crop protection, soil improvement and increased sustainability.\n<\/p>\n<p><span class=\"bwuline\">Cautionary Language and Forward-Looking Statements<\/span><\/p>\n<p><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Finvestor.verde.ag%2Fwp-content%2Fuploads%2F2020%2F10%2FCautionary-Language-and-Forward-Looking-Statements-Verde-AgriTech.pdf&amp;esheet=52404522&amp;newsitemid=20210331005311&amp;lan=en-US&amp;anchor=This+news+release+contains+%26%238220%3Bforward-looking+information%26%238221%3B+and+%26%238220%3Bforward-looking+statements%26%238221%3B+%28collectively%2C+%26%238220%3Bforward-looking+statements%26%238221%3B%29+within+the+meaning+of+the+applicable+Canadian+securities+legislation.+The+Cautionary+Language+and+Forward-Looking+Statements+can+be+accessed+at+this+link.&amp;index=6&amp;md5=fe5b9a8db8f6bd452c16e7b18c1e7ee1\">This news release contains \u201cforward-looking information\u201d and \u201cforward-looking statements\u201d (collectively, \u201cforward-looking statements\u201d) within the meaning of the applicable Canadian securities legislation. The Cautionary Language and Forward-Looking Statements can be accessed at this link.<\/a><\/p>\n<p class=\"bwalignc\"><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.investor.verde.ag&amp;esheet=52404522&amp;newsitemid=20210331005311&amp;lan=en-US&amp;anchor=www.investor.verde.ag&amp;index=7&amp;md5=956f9ae805cb6f642e0e62764310db0f\">www.investor.verde.ag<\/a> | <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.supergreensand.com&amp;esheet=52404522&amp;newsitemid=20210331005311&amp;lan=en-US&amp;anchor=www.supergreensand.com&amp;index=8&amp;md5=af83974777704bf7c802f250edae2d24\">www.supergreensand.com<\/a> | <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.verde.ag&amp;esheet=52404522&amp;newsitemid=20210331005311&amp;lan=en-US&amp;anchor=www.verde.ag&amp;index=9&amp;md5=762af8c7e1207bacbe63ca9d7bc67d49\">www.verde.ag<\/a><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210331005311r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210331005311\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210331005311\/en\/<\/a><\/span><\/p>\n<p><b>Cristiano Veloso<\/b>, President &amp; Chief Executive Officer<br \/>\n<br \/>Tel: +55 (31) 3245 0205; Email: <a rel=\"nofollow\" href=\"mailto:cv@verde.ag\">cv@verde.ag<\/a><\/p>\n<p><b>KEYWORDS:<\/b> South America Brazil<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Agriculture Natural Resources Environment Mining\/Minerals<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20210331005311\/en\/868478\/3\/Logo_Verde_Agritech_Cor.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Verde Delivers 97% Gross Profit Growth With 62% Gross Margin for 2020, and First Full Year Profit (All figures are in Canadian dollars, unless stated otherwise. Average exchange rate in 2020: C$1.00 = R$3.84) BELO HORIZONTE, Brazil&#8211;(BUSINESS WIRE)&#8211;Verde AgriTech Plc (TSX: \u201cNPK\u201d) (OTCQB: \u201cAMHPF\u201d) (&#8220;Verde\u201d or the \u201cCompany\u201d) is pleased to announce its financial results for the fourth quarter (\u201cQ4 2020\u201d) and full year ended December 31, 2020 (\u201cFY 2020\u201d). Q4 2020 Financials Sales increased by 76% with 56,585 tonnes sold, compared to 32,221 tonnes in the fourth quarter of 2019 (\u201cQ4 2019\u201d). Gross margin increased to 59% in Q4 2020, compared to 36% in Q4 2019. The Company recognised revenue of $2,209,000, an increase of 48% compared to $1,491,000 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/verde-delivers-97-gross-profit-growth-with-62-gross-margin-for-2020-and-first-full-year-profit\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Verde Delivers 97% Gross Profit Growth With 62% Gross Margin for 2020, and First Full Year Profit&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-468317","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Verde Delivers 97% Gross Profit Growth With 62% Gross Margin for 2020, and First Full Year Profit - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/verde-delivers-97-gross-profit-growth-with-62-gross-margin-for-2020-and-first-full-year-profit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Verde Delivers 97% Gross Profit Growth With 62% Gross Margin for 2020, and First Full Year Profit - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Verde Delivers 97% Gross Profit Growth With 62% Gross Margin for 2020, and First Full Year Profit (All figures are in Canadian dollars, unless stated otherwise. Average exchange rate in 2020: C$1.00 = R$3.84) BELO HORIZONTE, Brazil&#8211;(BUSINESS WIRE)&#8211;Verde AgriTech Plc (TSX: \u201cNPK\u201d) (OTCQB: \u201cAMHPF\u201d) (&#8220;Verde\u201d or the \u201cCompany\u201d) is pleased to announce its financial results for the fourth quarter (\u201cQ4 2020\u201d) and full year ended December 31, 2020 (\u201cFY 2020\u201d). Q4 2020 Financials Sales increased by 76% with 56,585 tonnes sold, compared to 32,221 tonnes in the fourth quarter of 2019 (\u201cQ4 2019\u201d). Gross margin increased to 59% in Q4 2020, compared to 36% in Q4 2019. The Company recognised revenue of $2,209,000, an increase of 48% compared to $1,491,000 &hellip; Continue reading &quot;Verde Delivers 97% Gross Profit Growth With 62% Gross Margin for 2020, and First Full Year Profit&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/verde-delivers-97-gross-profit-growth-with-62-gross-margin-for-2020-and-first-full-year-profit\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-31T11:03:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210331005311r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"11 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/verde-delivers-97-gross-profit-growth-with-62-gross-margin-for-2020-and-first-full-year-profit\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/verde-delivers-97-gross-profit-growth-with-62-gross-margin-for-2020-and-first-full-year-profit\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Verde Delivers 97% Gross Profit Growth With 62% Gross Margin for 2020, and First Full Year Profit\",\"datePublished\":\"2021-03-31T11:03:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/verde-delivers-97-gross-profit-growth-with-62-gross-margin-for-2020-and-first-full-year-profit\\\/\"},\"wordCount\":2127,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/verde-delivers-97-gross-profit-growth-with-62-gross-margin-for-2020-and-first-full-year-profit\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20210331005311r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/verde-delivers-97-gross-profit-growth-with-62-gross-margin-for-2020-and-first-full-year-profit\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/verde-delivers-97-gross-profit-growth-with-62-gross-margin-for-2020-and-first-full-year-profit\\\/\",\"name\":\"Verde Delivers 97% Gross Profit Growth With 62% Gross Margin for 2020, and First Full Year Profit - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/verde-delivers-97-gross-profit-growth-with-62-gross-margin-for-2020-and-first-full-year-profit\/","og_locale":"en_US","og_type":"article","og_title":"Verde Delivers 97% Gross Profit Growth With 62% Gross Margin for 2020, and First Full Year Profit - Market Newsdesk","og_description":"Verde Delivers 97% Gross Profit Growth With 62% Gross Margin for 2020, and First Full Year Profit (All figures are in Canadian dollars, unless stated otherwise. Average exchange rate in 2020: C$1.00 = R$3.84) BELO HORIZONTE, Brazil&#8211;(BUSINESS WIRE)&#8211;Verde AgriTech Plc (TSX: \u201cNPK\u201d) (OTCQB: \u201cAMHPF\u201d) (&#8220;Verde\u201d or the \u201cCompany\u201d) is pleased to announce its financial results for the fourth quarter (\u201cQ4 2020\u201d) and full year ended December 31, 2020 (\u201cFY 2020\u201d). Q4 2020 Financials Sales increased by 76% with 56,585 tonnes sold, compared to 32,221 tonnes in the fourth quarter of 2019 (\u201cQ4 2019\u201d). Gross margin increased to 59% in Q4 2020, compared to 36% in Q4 2019. The Company recognised revenue of $2,209,000, an increase of 48% compared to $1,491,000 &hellip; Continue reading \"Verde Delivers 97% Gross Profit Growth With 62% Gross Margin for 2020, and First Full Year Profit\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/verde-delivers-97-gross-profit-growth-with-62-gross-margin-for-2020-and-first-full-year-profit\/","og_site_name":"Market Newsdesk","article_published_time":"2021-03-31T11:03:21+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210331005311r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"11 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/verde-delivers-97-gross-profit-growth-with-62-gross-margin-for-2020-and-first-full-year-profit\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/verde-delivers-97-gross-profit-growth-with-62-gross-margin-for-2020-and-first-full-year-profit\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Verde Delivers 97% Gross Profit Growth With 62% Gross Margin for 2020, and First Full Year Profit","datePublished":"2021-03-31T11:03:21+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/verde-delivers-97-gross-profit-growth-with-62-gross-margin-for-2020-and-first-full-year-profit\/"},"wordCount":2127,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/verde-delivers-97-gross-profit-growth-with-62-gross-margin-for-2020-and-first-full-year-profit\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210331005311r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/verde-delivers-97-gross-profit-growth-with-62-gross-margin-for-2020-and-first-full-year-profit\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/verde-delivers-97-gross-profit-growth-with-62-gross-margin-for-2020-and-first-full-year-profit\/","name":"Verde Delivers 97% Gross Profit Growth With 62% Gross Margin for 2020, and First Full Year Profit - 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