Asry Expects Operating Income to Hit $135m

Arab Shipbuilding and Repair Yard Company (Asry) said that it expected net operating income to reach about $135 million by the end of this year, compared to $111 million last year. The board praised the notable improvement in sales and net profit after depreciation till the end of October, which is estimated at $11.5 million, an 88 percent increase over the net profit for the same period last year of $6.1 million. It heard that 150 vessels were repaired or booked for repair, most of which were very large crude carriers. Source:TradeArabia