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VERDE AGRITECH August 16 , 2021 VERDE INCREASES REVENUE BY 116 % WITH A GROSS MARGIN OF 72 % ( All figures are in Canadian dollars , unless stated otherwise . Average exchange rate in Q2 2021 : C $ 1.00 = R $ 4.32 ) Belo Horizonte , Brazil . Verde AgriTech Plc ( TSX : " NPK " ) ( OTCQB : “ AMHPF " ) ( " Verde " or the " Company " ) is pleased to announce its financial results for the second quarter , ended on June 30 , 2021 ( " Q2 2021 " ) , and the upwards revision of its target revenue for 2021 . Q2 2021 FINANCIALS Revenue increased by 116 % , to $ 5,376,000 compared to $ 2,492,000 in the second quarter of 2020 ( " Q2 2020 ” ) . Revenue in Brazilian Real ( " R $ " ) increased by 159 % , to R $ 23,215,000 compared to R $ 8,965,000 in Q2 2020 . • Gross margin increased to 72 % in Q2 2021 , compared to 62 % in Q2 2020 . . Operating profit before non - cash events increased by 109 % , to $ 1,220,000 compared to $ 584,000 in Q2 2020 . . Trade and other receivables increased 259 % , to $ 6,020,000 compared to $ 1,675,000 in Q2 2020 . Sales by volume increased by 35 % , to 96,233 tonnes sold compared to 71,183 tonnes sold in Q2 2020 . Verde recorded a net profit of $ 79,000 , compared to a net profit of $ 444,000 in Q2 2020. A $ 887,000 non - cash charge from Verde's long - term incentive programme for 58 employees was the main reason for the reduction in net profit for the period . Cash held by the Company increased by 214 % , to $ 1,908,000 , compared to $ 607,000 in Q2 2020 . " We are proud to see that Verde achieved triple - digit growth in revenue for the second quarter , especially in light of the considerable improvement in gross margin . This consistent growth in the first half of the year made it possible for us to , once more , increase our revenue target for 2021 ” , said Cristiano Veloso , Verde's Founder . 2021 GUIDANCE Originally , the Company's target for 2021 was to achieve R $ 50 million revenue , as announced in the press release disclosed on November 15 , 2020. On May 17 , 2021 , however , Verde announced a 10 % increase in its guidance , aiming for a new a revenue target of R $ 55 million for 2021 .