WMS joins list of market flotations

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The Independent Online
THE THIRD stock market flotation in less than a week will be announced today by WMS Group, a designer and distributor of window and door hardware, writes John Shepherd.

Last week's flotations were Trinity Holdings, maker of Dennis refuse trucks and fire engines, and JD Wetherspoon, the pub company. Next Monday will see the market debut of Vardon, owner of the London and York Dungeons and eight Sea Life Centres.

WMS was founded as Window Machinery Sales by Joe Moore, the chairman, in 1980. The placing is being handled through Chartered WestLB. Full details have yet to be disclosed, but Mr Moore will retain a controlling shareholding and the group's initial market worth will exceed pounds 40m.

Details released include the company's trading performance in the two years to 31 August 1991. In 1989/90 it made pounds 1.7m before tax on sales of pounds 19.5m, rising to pounds 2.55m and pounds 20.2m respectively the following year.

Its main business is the design, development, procurement and distribution of window and door hardware and related fastening devices, predominantly to PVC-u window and door manufacturers and installers.