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.

looking from the outside and the sentiment in the market it doesnt seem to bad to me. Down but on reasonably small volume. I will certainly be keeping an eye on these.

At least sharesmag from this week reckons drop is overdone and have come out with a buy recommendation- fwiw

Robinhood can you post what is wrote please?

"the shares have had a torrid time crashing from a recent peak of 194p. Using a trailing stoploss would have got you out at about 155p for a handsome profit on the tip price of 82p (28 oct 06). Others should hang in there as the interim results showing an unexpected loss were more due to contract delays than anything fundamental. The directors have recently bought more shares and on a prospective PE of 17 falling to 11.5 next year, they look good value"

Problem for me is that I rememeber Wiggins, much the same pattern, up down ,up down, and then down and out.

Why take chances with your money?

David ,i was in on float day at 56p and this was nearly a 3 bagger for me 9 months later ,,i'm out now so just watching ,however your last comment ((down and out )) is ridiculous, yes they have come off a long way ,but this company is not going down and out !!.In fact i go with Shares Mag ,they now look good value.

I'm not surprised David10B is making stupid comments re WNG. Can someone tell me if by any chance the Worthington part of WNG is anything to do with the Worthington of BKE and COH. If the answer is yes, it just further confirms that this particualr poster has a manic unhealthy obsession with Mr Worthington and will continuously post negative unfounded comments on any company Mr Worthington is associated with. I think medical intervention is required, vendettas are not good for the soul!

A bit of TA FWIW, click on the link and scroll down to the WNG chart

WNG TA

pth

PHWAH!!!!
What a horrid chart but knowing the way these things go, i guess it's overdone ...... presume just general market spite re RNS of 4th July

have just read that RNS ...... i know i am very very senile, but why was this understatement seemingly taken as bad news, or more exactly, why did sp plummet just prior in any case?

if PT is correct, then there is upside to about 135 where 25+200 dma converge

Come no PITHY with comments like that the intervention must be for personal reasons.

Jimmieb THE CITY IS SO UNFORGIVING, IF I WERE TO BET THEN I WOULD SAY WNG WILL FIND IT VERY HARD GOING TO SURVIVE, IT MAKE TAKE AGES BUT I WOULD SAY ITS GOING TO GO BUST---FOLLOWING THE WIGGINS PATTERN. ONCE YOU DECIEVE ON YOUR ACCOUNTS YOU ARE FINISHED---AND RIGHTLY SO,

10B ...... instead of spluttering and gibbering, please answer the Q that i raised, for RNS looked to be good news to me, and in any case, it came out AFTER sp had already crashed

Welcome to the WNG thread cynic.
It wasn't just the understatement. It was a number of factors which happened consecutively which undermined confidence.
The company showed a loss in it's interims, which came as a surprise. The Chairman resigned. The interims were then shown to have an error. The directors then bought at a greatly reduced price. Rumours of collusion or worse then ciculated. Confidence was greatly undermined in a company which was thought to be extremely well managed.
I am holding stock & I believe the fundamentals are still sound, but locking in profit as & when is probably a good idea in the short term.

ive got in at just under 100. Always been more of a bull than a bear. Im glad we have the bears gives us bulls a better chance. Time will tell.

thanks for the sensible explanation ...... this share was only brought to my attention through PT and "our" TA thread ...... companies that cock-up like WNG are not easily forgiven by the city, though that does not mean there is not money to be made on a technical bounce ..... the converse is also true on good quality companies - e.g. PT reckons SCHE is looking due for a tumble

Cynic I am slow at best I did not get that last post of yours please explain

Harry has already answered so my last post was in response to him

Err, can someone please answer if Worthington is the same Worthington as COH? Ta very much. Would explain why Thrush is posting on here. Or perhaps he thinks that the two are the same, but actually they are not, in which case I feel sorry for anyone named Worthington, cos you will be hounded by a total muppet for the rest of your life!!

pth

Differenc is pt .... I liked the real Muppets.

Indeed Dil, specially Animal, now there was a real star :)

Matter not what the name is of COH are puuling a fast one then its out with the hounds.

I trust that name calling helps you with your complex---what it may be,