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News Breaks | | | | January 21, 2013 | | 11:21 EDT |  | GURE | Gulf Resources announces financial guidance for FY13
Due to the influence of the European debt crisis and the slowdown in the domestic economy, the company has not been able to meet its previously announced earnings forecast set forth in the company's 2012 financial guidance. As the market demand driven by the economy condition continues to fall, the bromine sales price experienced significant decline over the year, which adversely affected the Company's operating performance. Mr. Liu, the CEO of the Company continues, "We expect that in the year 2013, stimulus plans to be issued as a result of the replacement of the top officials in China's central government will stimulate the weak economic environment. We believe the average selling price of bromide in the year 2013 will further increase and drive our business performance to grow at least 30% year on year basis." | |
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