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The Gym Group expects revenue to jump 27% amid rise in membership numbers

By BFN News | 08:46 AM | Friday 12 July, 2019

Low-cost gyms operator The Gym Group said it expected revenue to increase by more than quarter in the first half of the year on the back of rise in membership numbers. For the half-year ended 30 June 2019, revenues grew 26.9 % up to £74.0m from a year earlier as membership numbers increased by 10.6% to 796,000. The average Members for the first half of 797,000, were up 20% from 664,000 a year earlier. The company grew its gym estate grew to 165 in the half, up from 147 last year, with eight new site openings during the period. 'The platform we have created means we can continue to expand rapidly and we expect to meet our rollout target of 15-20 gyms for 2019 with one small box gym to open later in the year. I am excited about the potential of the Company and look forward to delivering another year of strong profitable growth for shareholders,' the company said. Story provided by

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