Article: Gofar Marine Bio in the red in H1 after failure to secure govt support for fuel ethanol business.

Gofar Marine Bio in the red in H1 after failure to secure govt support for fuel ethanol business

Shanghai. August 26. INTERFAX-CHINA - Beihai Gofar Marine Biological Industry Co. Ltd.'s net loss over the first six months of this year can be attributed to its attempt at producing non-grain-based fuel ethanol without first securing much-needed government subsidies, an expert told Interfax on Aug. 25.

According to the company's 2008 interim report, between January and June this year, Gofar Marine Bio ran up a net loss of RMB 36.84 million (-$5.39 million). In comparison, the company made RMB 804,974 ($117,686.26) over the same period last year.

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