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.

so many on goldfingers case now -those last spamming posts on the solas advfn board must have lasted ten minutes.

Looks like we have a large order to fill.

Like you say GF ,i'm surprised it didn't get hit harder after the lovely run we'v all had with this one ,a good sign me thinks ,,glad i kept a few for a rainy day.

01 March 2007

Worthington Nicholls Group plc

('the Company')

Holding in Company


The Company was today notified that Octopus Investments Limited has a notifiable
interest in the Company, being 2,930,000 ordinary shares representing
approximately 3.98% of the Company.

Good to see that confidence is still high in WNG & that the downturn has had a minimal effect. Am still holding & happy to remain so.

Could be there's a few s..quid to be made here guys!!

sorry couldn't resist it!

AM

WNG aren't the only ones getting their tentacles into good business AM!

Nice to see this one back in the blue.

This one as gone ex divi today which as compounded the fall.

should see support soon I hope or could go 140 or even 120, if it does the latter I'll be piling in.

Sold this a.m. (regretfully) with profit.
General consensus is that FTSE will continue to fall this week, but will definitely be back in to WNG when the dust settles. 120p or less would be attractive.

I'd expect a bounce this week, however looking at yen/dollar chart or yen / pound the reason for sell off is quite clear, question is how many positions have unwound and how many still need to go?

to put another way will funds be piling back in to minimise losses soon?

If they are you may find you've sold out at wrong time, I wish I knew the answer to those questions, expect alot of volativity either way.

Believe me, I didn't want to sell, but having seen profit wiped out on other stocks which I hold (HMY & DOM for example) it just seemed sensible to cash this one in.
At least now I have some spare cash to use when it picks up.

Looks hit a little too hard this one today.

Mind having said that panic in general could last for a few more days.

Certainly bringing the P/E figure back into more modest value teritory.

Sound thinking harrycat, nursing losses at moment and holding, although am thankfully in pele and chp, not the safest stocks but good performance today.

Unfortunately bought some last Friday, still could have been worse and bought last monday, still up overall.

Back over the 150p mark.

Is that the market wobble over with ?? ,if so we should make some headway this year.

Im not so sure Jimmy.

It may be suckers rally in general at the moment.

Don't know GF , apart from a long term few in this one i'm out right now ,,i would'nt mind a stake in MYH , .i'm waiting to see which direction we take ,,difficult though it is..

Id wait and see what monday brings Jimmy.

Ive seen so many of these sucker rallys over the years suck investors in.