Asry net income to hit $137m

Arab Shipbuilding and Repair Yard (Asry), a leading provider of specialist marine services in the region, said it expects a net operating income of $136.5 million. The Asry board held its 118th meeting under the chairmanship of Shaikh Daij bin Salman bin Daij Al Khalifa. It was attended by representatives of the remaining shareholding countries - Saudi Arabia, Qatar, Kuwait, the UAE, Iraq and Libya.
The board reviewed the company's results for this year, Shaikh Daij said. The number of vessels repaired up to the end of last month was 139, he added.
It also thanked the management and all the employees for their sincere efforts despite the severe competition from other yards and passed a resolution for distributing a bonus for the employees in appreciation of their efforts this year.
The board approved the 2010 budget and reviewed a number of proposals and information related to administrative, marketing and technical matters.
It was also briefed regarding plans for continuous improvement.