Asry’s growth praised

His Majesty King Hamad’s representative for humanitarian work and youth affairs and Oil and Gas Holding Company (nogaholding) chairman Shaikh Nasser bin Hamad Al Khalifa has praised Arab Shipbuilding and Repair Yard (Asry) for continuing to achieve its objectives aimed at building a sustainable future.

Shaikh Nasser was speaking as he attended Asry’s celebration of its outstanding financial and operational results for 2022.

The event was attended by key stakeholders and strategic partners from inside and outside Bahrain and Asry’s senior management.

Shaikh Nasser praised Asry’s progress which has led to the current results, indicating that the company is achieving targeted financial recovery.

During the event, Asry announced the positive results it has achieved since launching and implementing its long-term strategy to restructure the company’s operations in 2019.

The restructuring included the launch of investment and modernisation programmes. This resulted in remarkable growth in its net income by achieving record profit margins for the first time in ten years.

Asry chairman Ayman Almoayyed said the results reflected the progress made in achieving financial recovery and more sustainability for the company.

He expressed his appreciation for the efforts of the executive management which contributed to upgrading Asry’s operations and its regional and global positioning.

Managing director Mazen Matar said Asry will continue working on enhancing its position as a competitor in the global maritime sector and ship repair.

ASRY will achieve its set goals by committing to the implementation of its business strategies, he said. He also affirmed commitment to offering optimal solutions for all maritime clients.




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