The Arab Shipbuilding and Repair Yard Company (Asry) achieved a net operating income of $106.35 million in the first nine months of the year.

The number of vessels repaired during this period reached 147.

The results were announced at a board meeting after company's new administration building was officially opened by chairman Shaikh Daij bin Salman bin Daij Al Khalifa.

'We hope that there will be improvement in the ship repair market, which is still suffering from slackness and severe competition especially that the sales have dropped compared with the same period last year and certainly that the policy of diversification into offshore and military ship repairs will help Asry to overcome this difficult period,' said Shaikh Daij.-TradeArabia News Service