VOL. XL

No. 6

10-February-1997

BAHRAIN

ASRY Announces Net Profit Of $3.4Mn In 1996

The Bahrain-based OAPEC-sponsored Arab Shipbuilding and Repair Yard (ASRY) has announced a record net profit for 1996 of $3.4mn, a 143% increase over the 1995 profit of $1.4mn. The company's operating profit rose from $8.5mn in 1995 to $9.7mn in 1996, with gross sales revenue also rising from $74mn in 1995 to $89.5mn in 1996.ASRY reported that it had repaired a record of 131 vessels during the year, of which 24...