VOL. XXXI

NO. 48

5-SEPTEMBER-1988

Financial and Banking News

INVESTMENT ACTIVITIES

Torras Hostench Continues Record Profitability

The Kuwait Investment Office's Spanish subsidiary, Torras Hostench, has continued its run of record-breaking profits with first half results for 1988 which show an 18% improvement in profits from Pta 3.9bn to Pta 6.4bn ($37.5mn). For 1987 as a whole Torras declared profits of Pta 15.25bn ($125mn), which were 124% higher than in 1986.

Torras' first half turnover improved...