His Majesty Nasser bin Hamad, Chairman of the Board of Directors of the Oil and Gas Holding Company (nogaholding), was present at a recent meeting at Bahrain’s Arab Shipbuilding and Repair Company (ASRY) yard in celebration of its “outstanding financial and operational results for the year 2022.” The event was attended by key stakeholders and strategic partners from inside and outside Bahrain as well as ASRY senior management.
HH praised ASRY’s progress which led to the current results, indicating that the company is achieving financial recovery targets. 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 has resulted in “remarkable” growth in net income and achieving record profit margins for the first time in ten years, ASRY started.
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