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.

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

Dil - better head for the beach? ;-))

Dil, albeit with a caveat, when I posted the confirmed buy signal yesterday the Bid / Offer was 101p-104p or thereabouts. Quite pleased with the move thus far :)

pth

I reiterate from my post above these shares are not repeat not good value. they could crash out as the City is unforgiving.

AT BEST EXPECT MORE CASH CALLS, OR A COLLAPSE OR A TAKEOVER.

Looks like having trashed the COH thread with his continuous repetitive deramping 10B (aka Thrush = irritating ****) will haunt this thread now and all because of the name Worthington - LoL

ABSOLUTE RUBBISH THIS AND COH ARE NOT DERAMPS, JUST A FRANK EXPRESSION OF MY OPINION ON GROSSLY OVERVALUED SHARES.

PEOPLE COME HERE SEEKING AADVICE AND GUIDANCE NOT OVER BLOATED RAMPS.

LOOK AT IT THIS WAY I WOULD NOT WISH TO DERAMP SOME STUFF I HAVE BBUT NOTHING WILL STOP ME BEING FRANK ABOUT THEM.

EG CFE LEAVE IT WELL ALONE RIGHT NOW, SAME WITH LNX---WAIT FOR MORE NEWS. YOU SEE I DONT MINDED SLAGGING ANY SHARE THATS WORTH IT.

OTHER SHARES THAT I HAVE MENTIONED HERE ARE DOING WELL.

HOWEBER ITS BECUASE OF RUDE GUYS LIKE YOU THAT PEOPLE LIKE ME DONT MENTION THE REAL GEMS.

i BOUGHT A FEW MIL, QUITE A FEW, OF EIT THE OTHER DAY @ 1.5P I THOUGHT TO SAY BUY HERE, BUT YOU WERE WAY INTO YOUR MONTHLIES AND A BIT BITTER SO I DID NOT-----TWAS NOT ME THAT LOST OUT WAS IT-

IAN WHEN ARE YOU GOING TO REMOVE THIS MUPPET

"PEOPLE COME HERE SEEKING AADVICE AND GUIDANCE NOT OVER BLOATED RAMPS"


Anybody who comes on a BB for this reason should be shot!


What's more, this will recover.

Can I borrow your 12 Bore please Al, I have a target in mind :))

No bullets left.

Who is this dickhead?

A really HOT AUGUST will do the trick. DAILKIN ?

Who? The self -proclaimed saviour of the small investor?
Think your description suits better Al :))