Bahrain-based Arab Shipbuilding and Repair Yard Company (Asry) said its sales reached $168.756 million last year, up 13 per cent over 2010 sales of $149.174 million.

This was announced during its 37th ordinary meeting attended by representatives of the shareholding countries - Bahrain, the UAE, Saudi Arabia, Qatar, Kuwait and Libya.

During the meeting, the general assembly approved the 37th annual report of the company's activities and the audited financial statements for 2011.

The number of ships repaired last year was 200 compared to 210 vessels in 2010 and 168 vessels in 2009.

The general assembly also highlighted the company's results for the first three months of 2012. It said sales reached $40.080 million and 60 vessels were repaired up to May 5.

The general assembly chairman thanked members, board of directors, the executive management and employees for their sincere efforts and hard work.-TradeArabia News Service