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.

It is ,,, i only hold a few now ,keeping those for a free run for the rest of the year,,what a great rise this has been.

Indeed , indeed.

Good stuff, 1.4775m installation fees plus annual maintenance fees, as a minimum - very nice:-

21 February 2007

Major new international contract secured

Worthington Nicholls Group plc (AIM: WNG) ('Worthington Nicholls' or the
'Company'), one of the UK's largest independent installers of air conditioning,
heating, ventilation and chilled water systems, has signed an agreement with
Australian software specialists Q2 Solutions Pty Limited ('Q2'), a leading
supplier to the InterContinental Hotels Group ('IHG').

Q2 has appointed Worthington Nicholls to be its preferred service provider to
install and maintain Q2's ESCAP IHG service software solution ('ESCAP') in
Europe, the Middle East and Africa ('EMEA') for an initial period of five years
with a rolling three year notice period thereafter. Worthington Nicholls has,
over the past six months, sent employees to Q2 in Australia to receive training
in the installation and support of the ESCAP system.

ESCAP is a bespoke web-based software product, developed specifically for IHG's
hotel brands which include InterContinental Hotels, Crowne Plaza, Holiday Inn,
Express by Holiday Inn and Staybridge Suites. ESCAP enables hotel managers to
benchmark and monitor individual hotel engineering and maintenance performance
on a global and regional basis, and ensures that engineering and maintenance
tasks are carried out consistently whilst costs and resources are managed with
increased efficiency. The system is currently successfully deployed in 66 IHG
hotels in Asia Pacific.

IHG has confirmed that Worthington Nicholls will be its preferred provider of
ESCAP to its estate of hotels within EMEA and will train staff, install and
operate the software in all owned, managed and franchised hotels that subscribe
to the system.

Under the terms of the agreement, in the first year Worthington Nicholls is
aiming to provide ESCAP to up to 197 IHG owned/managed hotels in EMEA. Upon
installation of the software the Company will receive a one-off licence fee of
7,500 per hotel. It will also receive annual additional software support and
maintenance fees payable over the term of the agreement. Worthington Nicholls
has already commenced the ESCAP roll out to IHG owned/managed hotels.

Worthington Nicholls will also market the benefits of ESCAP to IHG's 420
franchise hotels in EMEA. The contract value with IHG franchised hotels and the
cost of ESCAP support and maintenance contracts will be negotiated on a hotel by
hotel basis.

Mark Worthington, Chief Executive of Worthington Nicholls, said:

'This agreement expands the breadth of our services into facilities management
support. An important part of winning the Q2 contract was our principal
contractor status with IHG. This is a major opportunity for Worthington Nicholls
to continue to grow the business in the EMEA region. It has taken 12 months of
negotiation to secure this agreement with Q2 and we now look forward to
delivering it successfully into IHG's EMEA estate.'

& up 5p Bid 156p offer 159p

Excelent news. Another brick in the wall.

What a corker of a day, and when most stocks have had a bad un .

Another contract ,Another amazing day :-)

Hoping for same again thursday.

Continues march up and onwards.

Panmure Gordon have reiterated their 'buy' rating today, and set a new target price of 203p - very nice!

Steve

I have a lot more confidence in this company as the sp continues to rise gently week by week. Steady progress is better than unpredictable lurches up & down, imo.
If the sp was to rise by 6p per week on average, we would be at 203p in 8 or 9 weeks which would take us nicely past the April 5th tax date, so profit would fall in to the next tax year.
However, once we reach the 203p mark they will probably set a new price target, so hopefully everyone won't bail out before then.

I will keep holding until my trailing stop gets hit - hopefully that will be quite a while longer! Thanks to all the posters who helped bring WNG to my attention.

Steve

Glad I joined the stockowners of this stock already since Dec.Thanks folks.Anyone got a sell plan?

What do you consider to be a sensible trailing stop %age for this stock, s040371?

Well the trendline it's bounced off 3 times is currently about 134p, which is running just above the 50MA. I would say though that I trade using CFD's and use tighter trailing stops than some.

Steve

Nice to see the first I believe of many broker upgrades.

The Aim & Plus Newsletter writes: Worthington announced yet more contract wins yesterday. They expand Worthington's breadth of services into facilities management support. They also brings further earnings visibility and diversification from the core business, creating a new opportunity to expand into the EMEA region. On the back of this win, we are maintaining our September 30th 2007 estimate of 6.1p in earnings, but raising our 2008 forecast to earnings per share of 7.8p. We expect gross margins to rise by 1% to 32% and operating margins to increase by 0.4% to 17.5%. Based on our revised numbers, Worthington trades on a current-year multiple of 25, falling to 19.5 next year, putting it on a premium to the support services sector. This also reflects the group's position as a market leader and its strong long-term relationships with customers and suppliers. The shares yield 1%. With net cash of 3.8 million for future acquisitions and more potential contract wins this year, we suspect that our current estimates may well be revised upwards. We tipped the stock at 57.5p and have made a fantastic gain of 165% in just seven months, but this growth story is far from finished. STRONG HOLD

New high? :)

Harrycat - just out of interest, the point & figure chart on the Investors Intelligence website also gives a stop loss as of yesterday of 134p.

Steve

Cheers s040371. But am slightly confused as I have always interpreted a "trailing stop" to be a percentage behind the sp, so as the sp moves up the same %age will always move up at the same rate so as to protect against a fall. A stop loss of 134p is a huge percentage against a current sp of 169p.
I confess I am not really up to speed on CFDs so this principle may not apply.

feeling a little blue after taking my profits last week :-(

well done the rest of you guys. Will be coming back for these next week I think, as will continue to be re-rated on regular basis. Short term trading not done me any favours this time.