Watch out for this one floating in the next few days, it could turn out to be the float of the year. Theres not much available on the company yet but I have found the write up below which shows the fantastic potential of this one. Note just how cheap it is.

New Issue: here's one that's more than hot air

Published: 12:45 Monday 27 February 2006
By Cliff Feltham, Companies Correspondent

Owners of thousands of buildings in the UK are facing massive bills over the next few years to comply with new energy standards, which is good news for new AIM entrant Worthington Nicholls.

Air conditioning and ventilation units using ozone depletive gases have to be replaced by systems using more environmentally friendly gases.

The measures are creating a windfall for air conditioning installation companies like Manchester-based Worthington Nicholls which is to float on AIM with a price tag close to 35 million.

The firm, which has been around since the early 1970s, needs extra working capital to cope with the influx of orders which will see this year's turnover climb from 11.7 million to nearly 30 million.

The flotation, sponsored by broker Corporate Synergy, will also allow founder chairman Peter Worthington, who is nearing his 70th birthday, to sell shares worth around 7 million.

After years of steady progress, the firm has seen a huge jump in work triggered by new energy efficient legislation flowing from the Kyoto Agreement.

The deadline for owners of buildings to replace air conditioning, heating, ventilation and chilled water systems using banned gases is the end of 2009.

Chief executive Mark Worthington, son of John, believes there are at least 9,000 buildings in the UK which will have to comply with the new regulations. But the figure could be much higher. ' We are talking billions of pounds here,' he says.

Worthington Nicholls has concentrated on servicing hotel and retail clients which include Hilton, Holiday Inns, Debenhams, Arcadia and Boots.

A new, energy compliant air conditioning plant in a high street store can cost anywhere between 80,000 and 120,000. Re-fitting a Debenhams branch cost 670,000 while hotels can expect to pay around 3,500 a room for a new air conditioning unit.

Worthington Nicholls offers a complete service, designing the system, managing installation and providing regular maintenance. At present income from maintenance contracts is running at around 20% of total sales but that is expected to rise.

The flotation, which is raising a total of 15 million, will also provide a warchest for acquisitions. Two deals have already been lined up with will add another 20 million a year to turnover.

Mark Worthington says there is huge scope for acquisitions. The company claims to be market leader yet it only has a 3% share suggesting plenty of room for consolidation.

The company is making some confident assumptions about future growth. Profits are expected to rise from 3.7 million last year to 8.6 million in the current year to September. By 2008 it is projecting earnings of 12.6 million on sales of 45 million but this does not take into account any contribution from future acquisitions.

Says Worthington: 'Stringent environmental legislation has changed our business. Now the large international hotel and restaurant groups prefer to deal with a single supplier. We believe there is huge scope for expanding not just in the UK but across Europe.'

Price of the shares being placed will be fixed over the new few weeks following investor presentations with dealings due to start in about a month's time.

Please DYOR and do not use money on shares you cannot afford to lose.

cheers GF.

Here too.

and me

and me too!!!!

and me too seconded.

That's that settled then .

"BUY" says The Telegraph today


Worthington Nicholls

Worthington Nicholls, the UK's largest specialist air conditioning contractor, floated on Aim in June at 50p. The shares have since more than doubled and, while growth may slow down from its breakneck pace, they still have a way to go. Business is booming as UK hotels and public buildings see air conditioning as essential, and Worthington is fast becoming the leading player.

It bought retail sector specialist Project Air in June for 4.6m. Chief executive Mark Worthington says he is hungry for more deals and highlighted two potential targets at a 6m share placing last month. There are a further two acquisitions in sight but Worthington says he will stop there to allow for consolidation.

The company serves more than 50pc of the three-star UK hotel market. It has also never lost a client in its 30-year history. In the year ended September 2005, the business generated sales of 12.9m with a pre-tax profit of 300,000. This year Worthington's broker says sales should double to 25m and pre-tax profit should increase 12-fold to 3.6m.

But even these bullish forecasts may prove to be conservative when revenues from the acquisitions start to kick in. Buy."

Thanks for that Juzzle ..

yup thanks for that juzzle.

Shame they forgot to mention the Kyoto-related legislation which has created the compliance deadlines which are the main reason for the surge of work which Worthington are able to cash in on now and for the next 3-4 years.

But they did say 'Buy' so I maybe shouldn't complain ;o)
A lot of well-off retired folk read the Tgraf - and buy shares.

Super.

Off to a flyer.

That'll do for me . Lets start the next leg up.

Indeed, indeed.

Buy volume way up again.

Yes,,, come on Worthington up you go .

Carefully as she does it.

Springing to life.

Best day yet Gf . :-)

superb Jimmy.

Worthington Nicholls Group plc
19 December 2006



RNS Release

19 December 2006

Five new hotel group contracts secured worth c. 2,300,000
('Worthington Nicholls' or 'the Company')

Worthington Nicholls Group plc (AIM:WNG), installers of air conditioning,
heating, ventilation and chilled water systems, has secured contracts to provide
installation and maintenance for new and replacement air conditioning systems
with five new hotel group clients, in line with the Group budget for new
business in the hotel sector in 2007.

The largest contract is a full mechanical services installation at the 49
bedroom Hotel du Vin in Cheltenham, and is valued at 860,000. Work has already
commenced and is expected to be completed at the end of May 2007. Hotel du Vin
was acquired by Marylebone Warwick Balfour ('MWB') in October 2005. MWB is a
public company quoted on the London Stock Exchange and also owns the Malmaison
Group of hotels.

The contract secured with Paramount Group (Dawnay Day Hotels) is valued at
530,000. Worthington Nicholls will install new air conditioning units at the
Walton Hall Hotel, a prestigious business and leisure hotel located between
Stratford-upon-Avon and Warwick. Installation work commences in January 2007 and
is expected to be completed by late Spring 2007. Dawnay Day currently has 20
hotels in its estate.

Worthington Nicholls has also been appointed by the Q Hotels Group to fit air
conditioning units into their Ashford International Hotel in Kent. The contract
is valued at approximately 440,000 and work is scheduled to start in the New
Year. The Q Hotels Group currently own eight hotels in England and one in
Scotland, and have recently acquired 12 sites from Marston Hotels Group,
bringing their total number of hotels in the UK to 21.

A fourth contract is with Oxford Hotels for the refurbishment of a Holiday Inn
Express hotel in Bristol. The contract is worth approximately 250,000 with work
starting in January 2007.

Worthington Nicholls' first major install for the Malmaison chain will take
place in Reading, this is a hotel conversion which will feature 75 rooms and
additional public areas, supplied by 92 air conditioning units. Work has
commenced on site and is expected to be completed by summer 2007 at a value of
236,000.

Following these new contract wins, Worthington Nicholls will be the retained
contractor to 15 hotel groups, and 16 retail chains.

Mark Worthington, Chief Executive of Worthington Nicholls, said:

'Our goal is to win more work from each new hotel group based on providing
excellent service. What's particularly encouraging is that each new client win
increases both our market share and limits our dependence on any single client.
We are delighted that Paramount, Q Hotels, Oxford Hotels, Malmaison and Hotel du
Vin have chosen Worthington Nicholls, and hopefully we can look forward to
further contracts from these new clients in due course.


Ploughing ahead ,,nice :-)