Verde Agritech (TSE:NPK) has released an update.
Verde Agritech Ltd reported a challenging fiscal year 2023, with revenues falling to $37.9 million, a significant 53% decrease from the previous year, largely due to a 54% drop in potash prices and a 32% decline in sales volume. Despite the downturn, the company was able to increase its cash reserves by $5.8 million through new loans and is actively seeking ways to improve market share and efficiency in 2024. The full-year audited results align with the interim results previously announced, confirming a net loss of $6.0 million.
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