Gulf Resources Inc. (GFRE.OB) Posts Q2 Financials – More than 90% Increases across the Board
Gulf Resources Inc. (OTCBB: GFRE) operates through two wholly owned subsidiaries, Shouguang City Haoyuan Chemical Co. Ltd. and Shouguang Yuxin Chemical Industry Co. Ltd., to produce crude salt and bromine in China. Bromine is used to manufacture a wide variety of compounds in the agricultural industry. The company recently announced its financial results for the three and six months ended June 30, 2008, posting positive results and strategic agreements. For the second quarter of 2008, Gulf Resources net revenue increased 92 percent to $23.8 million as compared to $12.4 million the same quarter of 2007; gross profit was $9.7 million,…