Florida-based China Direct Inc said it is raising its 2007 forecasts on strong magnesium prices, and strong performances from its consulting and chemical operations.
Management now sees 2007 revenue exceeding 175 mln usd with net profit of over 9.5 mln, compared to previous guidance of 150 mln and 8.25 mln, respectively.
"The third quarter and remainder of 2007 have been positively impacted by the overall prices for pure magnesium in the global marketplace as well as strong performances from the consulting division and chemical operations," China Direct said in a statement.
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