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.

That's it Worthington ,up you go .

And down again. Never mind the trend is correct.

Moving ahead slowly but surely. Thats the way I like it. With the August weather predicted to be scorching hot the company should add a few more orders to the big list its already got..............NICE.

Global warming....has it's advantages!
kim

I was just thinking the same with this recent heatwave . :-)

Im in Monte Carlo escaped from all the heat in Britain. Me and her indoors just couldnt stand it. Might have to go on another holiday aswell later in August.

I can see the home non industrial market booming for this sort of gear.

Worthington Nicholls wins 615,000 stg contract from Quinn Group
AFX


LONDON (AFX) - Worthington Nicholls Group PLC, the Manchester-based air conditioning services firm said it has secured its first major contract from the Quinn Group, owners of prestige UK hotels including The Belfry and the Nottingham Holiday Inn.

Worthington said following competitive tendering, its has won a 615,000 stg contract to install and maintain new air-conditioning units in each of the 198 bedrooms of the Crowne Plaza hotel in Cambridge.

The installation, which is being carried out with Worthington Nicholls acting as principle contractor, began earlier last month and is expected to be completed by the end of October 2006 and is currently on schedule and to budget


Keep em coming Worthington ..

Good spot Jimmy.

Looks like we are getting ready for bolt ons................

Worthington Nicholls Group plc
16 August 2006

Worthington Nicholls Group plc

('Worthington Nicholls' or 'the Company')



Directorate change



Worthington Nicholls Group plc (AIM: WNG), one of the UK's largest independent
installer of air conditioning, heating, ventilation and chilled water systems,
announces the immediate appointment of Tim Hunt as a Non-Executive Director of
the Company.



Mr Hunt will be joining the Company as a Non-Executive Director ahead of
becoming the Executive Finance Director of the Company on completion of his
notice period with The John David Group Plc. His primary responsibility as a
Non-Executive Director will be to oversee the Company's first audit as a public
company.



Mr Hunt, 40, qualified as a Chartered Accountant in 1991 after training with
KPMG in Preston. After having initially worked in the audit department at KPMG
for four years, he joined its corporate finance team in Manchester.



In 1996, while still working for KPMG, he advised JD Sports plc ('JD Sports')
(now The John David Group Plc) on its admission to the London Stock Exchange's
Official List. The following year Mr Hunt left KPMG to join JD Sports as company
accountant. In 2001, he was promoted to group financial controller. His most
recent role at JD Sports was as business analyst, a position he held for two
years.



Mr Hunt has been instrumental in JD Sports' negotiations and due diligence for
the acquisitions and subsequent integration of First Sport in 2002, RD Scott in
2004 and Allsports in 2005.



Mark Worthington, Chief Executive, said:



'Worthington Nicholls is growing quickly, both organically and through our
recent acquisition of Project Air. Tim's company systems and due diligence
experience, his budgeting and integration skills and his ability to identify and
negotiate on potential acquisitions will be of great value as the Company
continues to expand. We are delighted to welcome him on board.'


Director's full name Timothy James Hunt
Director's age 40
Current Directorships None
Former Directorships None

That's their plan GF ,,so looking good . :-)

Another undervalued small cap trading on a lowly forecast future P/E of below 12.

Air conditioning after this July will certainly be in the minds of many domestic potential buyers.

Check it out.

A couple of usefull contracts announced this morning, should be a lot more where they came from.....

Worthington Nicholls wins two contracts worth 1.3 mln stg
AFX


- Air conditioning and heating installation company Worthington Nicholls Group PLC said it has won two new hotel contracts with Macdonald Hotels and the Cairn Hotel Group, with a combined value of nearly 1.3 mln stg.

The group is installing Daikin air conditioning units at the Macdonald Hotel Manchester, for 750,000 stg and at the Cairn Hotel Group owned Holiday Inn Birmingham for 530,000 stg.



newsdesk@afxnews.com

gp/ra

Nice ,moving in the right direction :-)

Breaking upwards on a roll. NICE.

Going some today, now 70p. NICE.

excellent progress goldfinger. Only annoyed I had to wait until today to increase holding! Quietly accumulating contracts and demand can only rise- another great find!

RHPS tip sheet have a short term target of 80p tau.

Now wer'e motoring .:-))

And another nudge up on a down day for small caps, cant be bad.

Nice to see this one back at 70p still much more to come I feel.