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.

Thats based on a TA is it?.

I happen to think we will see double that come march /april next year.

5 possible acquisitions lined up, 1 abroad.

Worthington Nicholls Group plc
04 December 2006



Worthington Nicholls Group plc

('the Company')

Results of EGM


Worthington Nicholls Group plc announces that at the Extraordinary General
Meeting of the Company, which was held today, all resolutions proposed at the
meeting were unanimously passed.

The Company has now completed the fundraising of 6 million, before expenses, by
way of a placing of 6,666,667 new ordinary shares of 1p each ('Shares') at 90p
per new Share (the 'Placing'), in order to increase Group working capital and
provide further funding for identified acquisitions.

Application has been made to the London Stock Exchange for all the Placing
Shares to be admitted to trading on AIM. Admission is expected to become
effective and trading in the Placing Shares to commence on AIM on 5 December
2006.


Enquiries:

Worthington Nicholls 0870 609 1829
Mark Worthington, Chief Executive
David Levis, Corporate Director

Yes but you get most things wrong don't you hyleo.

Failed traders ,that's why they go round knocking stocks that they have no interest in.

Came back well this afternoon.

Some speculation that a tip sheet may have asked readers to top slice across the road on the other B/B but nobody can think of who it maybe.

My own feelings are that TAers saw a pattern formed and took flight. (DT)

Silly really as we are just about to hit more news on this one than we have done since it floated. Positive news I mean.

Nice to see this didn't drop below a quid ,and back in the blue ..Still think it's a good hold for next year..

Here too.

and me

and me too!!!!

and me too seconded.

That's that settled then .

"BUY" says The Telegraph today


Worthington Nicholls

Worthington Nicholls, the UK's largest specialist air conditioning contractor, floated on Aim in June at 50p. The shares have since more than doubled and, while growth may slow down from its breakneck pace, they still have a way to go. Business is booming as UK hotels and public buildings see air conditioning as essential, and Worthington is fast becoming the leading player.

It bought retail sector specialist Project Air in June for 4.6m. Chief executive Mark Worthington says he is hungry for more deals and highlighted two potential targets at a 6m share placing last month. There are a further two acquisitions in sight but Worthington says he will stop there to allow for consolidation.

The company serves more than 50pc of the three-star UK hotel market. It has also never lost a client in its 30-year history. In the year ended September 2005, the business generated sales of 12.9m with a pre-tax profit of 300,000. This year Worthington's broker says sales should double to 25m and pre-tax profit should increase 12-fold to 3.6m.

But even these bullish forecasts may prove to be conservative when revenues from the acquisitions start to kick in. Buy."

Thanks for that Juzzle ..

yup thanks for that juzzle.

Shame they forgot to mention the Kyoto-related legislation which has created the compliance deadlines which are the main reason for the surge of work which Worthington are able to cash in on now and for the next 3-4 years.

But they did say 'Buy' so I maybe shouldn't complain ;o)
A lot of well-off retired folk read the Tgraf - and buy shares.

Super.

Off to a flyer.

That'll do for me . Lets start the next leg up.

Indeed, indeed.

Buy volume way up again.