Award International is an investment company, previously quoted on AIM, which completed a Creditors Voluntary Arrangement in 2007. It currently operates as a holding company, having made no investments to date. The firm has now released its results for the year to 30th September, which revealed a loss of £12,000, down from £41,000 in 2008. Turnover was £4,000, as opposed to nil a year earlier, with the loss per share down to 0.01p from 0.04p in 2008. The firm has £134,000 in net cash, from £153,000 in 2008. It commented that it was “actively considering” a number of opportunities, and that it had controls in place to monitor cash expenditure.

Trading at 0.08p, the company is capitalised at £90,000, a discount of 29% to net assets. But as an investment company with no investments, the firm hardly stands out as an attractive proposition. Avoid.