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Gym Group profit jumps as membership growth bolsters revenue

By BFN News | 08:34 AM | Thursday 29 August, 2019

The Gym Group reported a surge in profit as revenue grew by more than quarter on the back of 10% rise in membership numbers. For the six month period ended 30 June 2019, adjusted pre-tax profit rose 53.3% to £5.5m as revenue increased 26.9% to £74.0m. Membership numbers increased by 10.6% to 796,000 and 8 new gyms were opened in first half of 2019, bringing total estate to 165, the company said. In the first two months of the second half, the company had continued to trade well and in line with its expectations and said it was on track to achieve its financial and operational plans for the full year. The interim dividend was raised by 28.6% to 0.45 pence per share. At 8:34am: (LON:GYM) The Gym Group Plc share price was +5p at 243.5p Story provided by

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