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.

pth and bluelady thanks fot helping clear up the confusion. I wonder what the poster who doesnt like the name Worthington drinks. Do I remember a a drink called Worthington E????? I presume there is a town called worthington too!!

You will get bounces, a good MMs money maker those, but the trend for this one is down and and I believe out!

TAKE CARE WITH YOUR MONEY

Ex Norwich City football manager also, by the name of Nigel Worthington. Delia would have something to say if you bad mouthed the name! :o)

Updated TA

Such a caring guy .... worrying about our money , bless him.

If you watched for so long how u such an ignorant annoying tosser ? .... no offence just wondering.

I doubt if anyone on here least of all those you try to wind up can't see for themselves what is happening and adjust their positions accordingly.

Not ashamed to say I've made more on these in the last 2 or 3 weeks than in the last 12 months .... luck I suppose but fuck all to do with your useless rantings 10B.

Name sucks too and suggests your a wind up :-)

Thought 10B was a place in Wales, no? ;-))

Good moring Dil

Now maybe thats the problem here the sefish quick buck artist rules over longer term prosperity for all.

Who knows its just a thought..

Cant really see why people get so angered when I call then right, arnt we here to help in other in general?

And with that said, WNG must surely go down big time at least that what I feel it will do.

Bad account never sits well with the City.

Kindly remember the one cant only wind a clock up if there is a keyhole

Have a really great weekend.

We have seen recently the sp of three AIM listed companies crash (SMC, WNG and yesterday CART). All of these companies appear to have either overestimated their sales contracts or included outstanding tenders with signed sales contracts. Again we see PI,s being taken for a ride by company directors issuing inflated trading statements quite often after they have acquired new businesses which were bought with the proceeds of share placings.

My very concerns, thank you.

Still think these are a good buy at current price .

Tipped in this week's Shares mag which might explain the activity on Thurs/Fri.

Careful re-reading of the recent interim statement raises a number of questions in particular the stated fact that there are no comparative numbers as the company was only incorporated recently. The recent announcement of a mult-million pound contract with Inter Continental Hotels appears to be an extension to an earlier maitenance contract

What they are involved in is not rocket science it is supplying and servicing air conditioning units.

It was never anything else, hard to make mistakes with contract values.

Although Shares Mag had this to say---I disagree, but please DYOR just because I would not touch them etc etc.


WORTHINGTON NICHOLLS - (WNG) 100p

The shares have had a torrid time crashing from a recent peak of 194p. Using a trailing
stop loss would have got you out at about 155p for a handsome profit on the tip price of
82p (26th October 2006). Others should hang in there as the interim results showing an
unexpected loss were more due to contract delays than anything more 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.

Dependant on how the SP closes today, ie, no fall back, the RSI has just posted a 'failure swing' CONFIRMED BUY signal on the RSI.

Please DYOR though.

pth

'Failure swing'? For us mere mortals that means..........?

Harry, all explained on the TA thread, page 1 I think :)

Yep. Think I grasp the principle.

Al , it is a place in Wales and I believe the name was not chosen at random hence the conclusion that the guy has been round a while and is just taking the p*ss :-)


Brave call pt , I'm not even trading these now too unpredictable.

Updated WNG TA

Dil, will be interesting to see if the RSI failure swing theory works here, generally it does, but perhaps after all the fun WNG is settling back down again now.

pth