A THANET company that recently listed on the alternative investment market (AIM) has unveiled profits of £110,000 in its first six-monthly report.

Award International Holdings, an incentives and events company based in Cliftonville, posted turnover of £2.237m in the half year to March 31, more than half the full year sum of £3.504m reported in 2003.

Operating profit was £140,000 (full year in 2003 - £236,000), and pre-tax profit £110,000 (£185,000). Promotional merchandise accounted for around 90 per cent of turnover with conferencing and events accounting for the balance.

Award, which owns two trading subsidiaries Award International Limited and Flexibreaks Travel Service Limited ("Flexibreaks"), floated on the AIM market on March 29 and raised £2.25m from the placing.

The interim figures do not include any turnover contribution from Flexibreaks. The company did not declare any dividend because the board said it was seeking capital growth in the medium term.

AIH has preferred supplier status with Pepsi Cola and works with many major brands. It provides clients with promotional goods and services designed to increase brand awareness among consumers; corporate hospitality, event management and corporate travel; and promotional goods and services exclusively connected with travel and holiday accommodation.