Worthington Nicholls Group plc
17 April 2007
Worthington Nicholls Group plc
Trading update
Worthington Nicholls Group plc, (AIM: WNG) ('Worthington Nicholls' or the
'Company'), the UK's largest independent installer of air conditioning, heating,
ventilation and chilled water systems, is pleased to announce that its new
business pipeline has increased in line with projections and that current
trading is strong.
Today, the Company can report that since 1 October 2006 it has submitted tenders
for approximately £85 million worth of additional new business which are
outstanding as at today, an increase of £18 million in the new business pipeline
figure from that reported in January in the preliminary results statement. The
new business pipeline includes a growing number of major air conditioning
installation contracts for prestigious hotels in continental Europe, an
important new market for Worthington Nicholls.
In response to the rising demand for its services in the UK and Europe, the
Company today announces that it is in two-stage process to take up to 3,000
square feet of additional office and staff car parking at its head office in
Wilmslow, near Manchester, thereby doubling its capacity. The first stage has
been agreed and stage two is in advanced negotiations.
It will also be opening a new office in Bluewater, Kent on Friday 20 April, from
which most of its major European contracts will be managed.
Mark Worthington, Chief Executive of Worthington Nicholls, said:
'We are pleased to report that revenues continue to grow in line with market
expectations and that our UK and European new business pipelines are healthy.
The increase in our office capacity, in terms of new sites and the extra office
space at Wilmslow, will ensure that the infrastructure is in place to enable our
expansion to continue at its current pace.'
Enquiries:
Worthington Nicholls 0870 609 1829
Mark Worthington, Chief Executive
David Levis, Corporate Director
Gresham PR Ltd 020 7404 9000
Neil Boom / Laura Black
Blue Oar Securities Plc* 020 7448 4400
Rhod Cruwys / Romil Patel
Information on Worthington Nicholls can be accessed via the Group's website:
www.worthington-nicholls.co.uk
* Blue Oar Securities was formerly Corporate Synergy Plc and acts as Nominated
Adviser & Broker for the Company
This information is provided by RNS
The company news service from the London Stock Exchange
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