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.

Not concerned.
My purchase of a couple of weeks ago was at 140 and I am still confident of being weel in profit by year end, with more to come.
Alan

A question - were we expecting a profit with these interims or was it all supposed to come with the FY ending 30/09/07. I seem to have forgotten. Doh!

FY ending BA.

Concensous analysts looking for 5.7p

per share on full year results

Thx

gf "always preached taking profits when it looks toppy?"come off it. I recall you saying that i made a big mistake in selling wng at 175 and topping up on AXS at 3.70 Euro p/s which incidentally now are at 4.23. Having said that I still believe WNG will recover otherwise my re-entry point at 1.50 does not look so smart

From AFX...looks cheap to get in now.

According to dealers, Panmure Gordon has reiterated its 'buy' rating on WNG and target price of 220 pence for the shares. In a note reacting to the results, it said cash flow is weaker than expected, while acquisitions after a dull first quarter are now performing in line or ahead of expectations.

The broker said the company should meet its numbers for this year but it will rely on some major contract wins in the coming four to six weeks, adding that the company has enough leads to achieve this.

Oi Dailos ALN bounced off support right on cue a couple of weeks ago.

I sold WNG for a 15% profit a couple of weeks ago as I hate results time for these smaller companies.

Fall does look a bit over done but best to wait til the dust settles.

Robinhood get your facts right please.

All along I have used a conservative few of this stock and preached it.

If you look at posts 505 507 508 509 547 569 and numerous ones before that where in fact I state I sold more than 90% of my holding you will seee I have been rather nervous of the high rating.

Ask stockdog and Jimmy if you want more proof.

And when I mentioned your post above re - to asx I was trying to point out that ASX could not justify its present rating on fundies and that WNG was the better long term stock, and I still believe that.

I wish you would discard your bitchy attitude.

And if you want more proof take a look at the sondex and hamworthy threads.

If a stock gets too topy I believe you should either take profits or sell the lot and move on.

Something the sola crowd should be looking at.

gf your post 595 of 14/5/07:
Rather a strange move that RH.

AXS not even at the profitable stage yet and the big international carpet manufactureres now pushing their commercial fire resistant new tech carpets in competion.

Theres a silly old codger on the finfoex website (fryern) who swears by AXS, but the problem is he cant see its a pie in the sky stock.

Id reverse your decision and put the money back in WNG which as been affected by summer drift but I do know that 2 maybe more brokers are about to revise the rating upwards.

And indeed the brokers did revise their ratings upwards.

Anyway Ive had enough of this child like behavior from robinhood, looks to me like hes lost money on WNG so is blaiming everyone else but himself. Grow up.

sorry to disappoint you. bot at 140 sold at 175. bot in again at 150 so at worst i am breaking even at current lvl

this looks hugely oversold, shenanigans on the book as usual, watch for the bounce back to 125-130 before the day's out.

The sell off, can be an advantage: It may give us the chance to buy more of a good thing at a bargain price."

thought oversold at 120, now 111 is a steal. strongly agree with dave. Good buying opportunity here. unfortunately got mine at 120. If goes lower will average down for a quick return on the bounce.

Traders have been in shorting the hell out of it methinks. They'll cover at some point. As of this moment about 10% of the shares have been traded so far today. ;-))

At 114p the current PE is 20. Is that too high or too low for a company that disappointed with interims? These are all questions you need to answer.

PS - that's forward PE!!

huge director buys.

Worthington Nicholls Group plc
29 June 2007

Worthington Nicholls Group plc
(the "Company" or "Worthington Nicholls")

Directors holding

Worthington Nicholls announces the following directors' purchase of ordinary
shares of 1p each in the Company ("Ordinary Shares").

Mark Worthington, CEO of the Company, has today purchased 450,500 Ordinary
Shares at a price of 1.11 per share. Following this purchase Mark Worthington
now holds 7,445,500 Ordinary Shares representing 8.56% of the total voting
rights of the Company.

Alastair Stoddart, Non Executive Deputy Chairman of the Company, has today
purchased 22,250 Ordinary Shares at a price of 1.11 per share. Following this
purchase Alastair Stoddart now holds 122,250 Ordinary Shares representing 0.14%
of the total voting rights of the Company.

Stephen Mulligan, Non Executive Director of the Company, has today purchased
22,250 Ordinary Shares at a price of 1.11 per share. Following this purchase
Stephen Mulligan now holds 22,250 Ordinary Shares representing 0.03% of the
total voting rights of the Company.