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.

Yep, but I love a good feckwit. ;-))

As a Nuetral, like or not 10B is on the money at the moment, alot of bears are punishing this at the moment, and it can't all be his fault!!!

Very nervous market will punish this relatively more than others.

Yes, but 10B only turned up after things began to go pear-shaped, steveo - as he did on the COH thread. His morbid interest in WNG was baffling. He admitted he doesn't hold any WNG shares or COH shares. That's fair enough, but why did he suddenly pipe up like some shonky soothsayer? Because he was a serial deramper who took a perverse pleasure in taunting those who do invest. Were he still able to contribute to this board, he'd no doubt reappear like some demented ambulance chaser when the next firm has an sp wobble. Of course, he'd pretend he was doing us a public service then, too.

David10b could'nt come up with any figures ,i don't think he had any knowledge of the markets whatsoever.

WNG has certainly taken a bashing as shareholders have lost confidence after the recent account 'cock-up'. Management seems not as secure as it seems. 80p now.

img src="http://charts.moneyam.com/Chart.aspx?Provider=EODIntra&Code=WNG&Size=700&Skin=BlackBlue&Type=2&Scale=0&Span=YEAR1&MA=&EMA=&OVER=&IND=&Layout=2Line;Default;Price;HisDate&SV=0">

Worrying that there has been no reassurance from the company as to the drastic price slump. Has anyone contacted them?

Looks like tomorrow is going to be another bad day.

Atten Paulj.
You woke me up and I feel its time to add a little equilibrium here.

Is it not when a company falls into a problem related decline that questions need to be asked in order to get to guts of the matter?

Does morbidness and intelligent questioning of a situation go hand in hand?

Are people serial de-rampers when they show an interest in stocks and markets?

What about the stocks that 10b gave positive comments on, there are plenty here should you care to look, this does not paint a picture of a serial de-ramper.

I have to think that people like 10b do in fact provide a service and are not idle de-rampers.

An analyse of his calls clearly show me at least that there is an active interest in markets and shares in general, therefore it must be assumed that the person is switched on.

All that said, and trustfully digested, his style is rather odd; but does that really matter if the calls are right? We are not psychology students here, but capitalists out for a gain.

When WNG hit the rocks, many were looking for direction, a life boat you could say as there were big losses, and more potential losses to come. What 10b offered was in fact a lighthouse, you could swim towards it or not, the choice was yours.

He called 80p and below, he was right. No need for any figures as he clearly said, you already had those as false as they were and director buying at around 110p. Most saw the latter as another lifeboat, only 10b said it was a desperate stroke.

Same applied with COH, another great call for 10b, while quite a number of admitted shareholder were claiming higher values to come 10b said it was about to fall and it did, hardly a fluke when taking all into consideration.

I got out and it looks as if I have saved of small fortune and I still have the opportunity to get back in at lower levels, thereby beating the market for a change

To summerise, I believe that we need more independent comments as shareholders will always rally to support their investments, be they right or wrong, as self preservation almost always takes president over most things in life.

I think we can all learn more by simply watching, listening, evaluating and taking executive action..

As I write, WNG is currently 79p and COH 35p respectively, which tends to support the contention for independant opinions on the boards.

There is no support at this price which makes me think , what is a good price to buy these 60p ?

What 10b offered was in fact a lighthouse, you could swim towards it or not,

Very theatrical umax ,

i say again 10b has no knowledge of the markets ,share prices can only go 2 ways, up or down ,and calling one right doesn't make you an expert ,,or should i say 10b an expert ,,it was fairly obvious this would tank after the recent balls up ,however it is not as 10b said going bankrupt ,that was the sort of rubbish he was spouting.

Duplicate post

I see that ***** 10B is back as Umax, wot a plank! The only reason 10B ever posted on this thread was because he mistakenly thought the Worthington in WNG was the same Worthington of COH. Oh dear, you just gotta laugh.

pth

umax = 10B

You know I sat back this morning and waited for this backlash.

I am for from being 1OB.

It seems to me that these BBs are dominated by the views of a few and woe befall anyone who appears to be smarter.

It matter not how many people 10b seems to have upset. he was clearing more knowledgeable than most of the so called pundits here. All one has do is read the threads before he posted on them, it really boils down to that.

I object to your silly name calling and in keeping with the good practices of MoneyAM, I formally request that you be banished from these BB for your adverse and unwarranted childish behaviour.

what is your interest in defending 10B then, umax? Can he not defend himself?
For me, it was not his opinions that were contentious, just that he tended to rant a little & become abusive. Otherwise he is as welcome to air his views the same as anyone else.

Harrycat please read back the posts, 10b was always intially very decent, and a pleasant chap, which made reading his post interesting and informative. Sadly 10b took a lot of stick, far more than I ever would before going on the offensive.

My interest must be the same as 10b's, a balanced view, presented in a civilised manner.

He seemed to have got it right on all he posted on and that is very interesting as he was either very clever, very well researched and informed, or very lucky, it would be up to this BB to decide which.

As for 10b not defending himself, I really can't say, what I can say though is if one takes a look at the abuse given to 10b on the RGT thread for example, then I would not bother to be here either, all the guy was saying there was RGT was not going anywhere but stagnation to down, I believe it was a penny at the time.

Well, I suppose that's one way to get around your ban, 10B, though perhaps you should have taken the hint rather than creating yet another persona.

yawnnnnnnnnnnnnnnnnnnnnnn what a typical reply, hardly intelligent and inspirering, so now back to reading only as its obvious that there is happiness in ignorance here and people only hear what they want to.

What a great way to enhance shareholder and investing knowledge.

I don't have a problem with 10b's point of view ,it was obvious this would take a hit ,however he did post that Worthington was going to go bust, that's absolute rubbish ,and that's why he has no understanding of the markets..