Money: Revenue rockets 27 per cent at The Gym Group - PressFrom - United Kingdom
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MoneyRevenue rockets 27 per cent at The Gym Group

11:30  12 july  2019
11:30  12 july  2019 Source:   cityam.com

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Revenue rockets 27 per cent at The Gym Group © Getty

The Gym Group has posted a 27 per cent leap in revenue to £74m for the first six months of 2019.

The contract-free low-cost gym operator also grew membership numbers by 10.6 per cent to 796,000 up to 30 June.

Eight new gyms opened in the first half of the year, to hit a total of 165 gyms, compared to 147 it operated in June last year.

Meanwhile non-property net debt stood at £47.2m, slightly up on December’s £46m.

It remains “on track” to deliver on its operational and financial plans for 2019, it said today.

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“The Gym Group has performed well in the first half of 2019,” said chief executive Richard Darwin.

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Total external revenue grew by 6.7 per cent to 57.8 billion euros. Business in Germany contributed to the dynamic growth of the group with an increase in At the presentation of the not yet audited business figures in Cologne on 10 April 2018, Lionel Souque, CEO of REWE Group , said: “2017 was

“I am pleased with the pace of growth and the delivery of our rollout which builds on the strong platform and systems put in place to expand the business in 2018.

“Our aim is to provide affordable fitness to a growing and more diverse membership. We have made significant progress in that goal in the first half with 10 per cent growth in the number of members.

“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.”

Gym Group will reveal its interim results on 29 August.

MSN are empowering Women In Sport this summer. Find out more about our campaign and the charity fighting to promote the transformational and lifelong rewards of exercise for women and girls in the UK here.

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