BELO HORIZONTE, Brazil, March 01, 2021 (GLOBE NEWSWIRE) -- Verde AgriTech Plc (TSX: “NPK”) (OTCQB: “AMHPF”) ("Verde” or the “Company”) is pleased to announce its sales results for the fourth quarter (“Q4 2020”) and for the year ended December 31, 2020 (“FY 2020”). Audited financial results for Q4 2020 and FY 2020 will be reported and filed on SEDAR on March 30, 2021.
In Q4 2020 the Company sold 56,585 tonnes of its multinutrient potassium fertilizer, marketed and sold in Brazil under the K Forte® brand and internationally as Super Greensand® (the “Product”), an increase of 76% in comparison to the 32,221 tonnes sold in the fourth quarter of 2019 (“Q4 2019”). For the full year 2020, the Company sold 243,707 tonnes of the Product, an increase of 103% in comparison to 119,809 tonnes for the year ended December 31, 20219 (“FY 2019”).
In November 2019, the Company had announced a revenue target of R$32 million for 2020. On November 16, 2020, Verde revised its target, raising it by 10%. The new target for the 2020 revenue was set at R$35.2 million. The Company is pleased to announce that it achieved the updated target.
“We know that 2020 was a challenging year for everyone because of Covid-19, especially in heavily affected Brazil. It is therefore gratifying to see the continued growth of Verde, thanks to our renewed and growing client base, as well as our devoted staff who believe in our purpose,” commented Cristiano Veloso, Verde's founder, President & CEO.