Published 17 August 2011
Gulf Resources, a manufacturer of bromine, crude salt and specialty chemical products in China, has reported total net revenue of $51.3m for the second quarter ended 30 June 2011, compared to $46.75m for the same period in 2010.

Revenue from the chemical products segment was $12.1m, or 23% of total revenue, for the second quarter of 2011, an increase of 3%from $11.8m in the corresponding period last year.

The increase imainly due to the introduction of new wastewater treatment chemical additives and the increased sale of agricultural intermediates.

In July, the company converted the production equipment from wastewater treatment chemical additives to pharmaceutical and agricultural chemical additives with higher profit margins.

The company has posted a net income of $10.02m for the second quarter of 2011, compared to $16.43m for the same period in 2010.

Gulf Resources' income from operations were $13m, compared to $21.89m for the same period prior year.

For the six months ended 30 June 2011, the company reported total net revenue of $96.68m, compared to $76.45m for the same period in 2010.

Gulf Resources has reported net income of $24.39m for the six months ended 30 June 2011, compared to $24.42m for the same period in 2010.

For the six months ended 30 June 2011, the company's income from operations was $33.24m, compared to $32.93m for the same period prior year.

Source:PBR Staff