The Gym Group making a strong recovery
The Gym Group, which has sites in Kidderminster, Stourbridge, Telford and Wolverhampton, reduced its pre-tax loss in the first six months of this year.
The loss improved from £21.8 million a year earlier to £4.4m. Revenue was up 187 per cent to £84.2m.
The group said its strong recovery was continuing and good progress was being made with its growth strategy
The Gym Group now has 215 low-cost and no-contract gyms.
Member numbers are building well and were 790,000 at the end of June – up 10 per cent from December .
Seven sites opened in the first half of the year and four have opened since the end of June.
The group will deliver 28 sites in the full year, including the conversion of acquired sites.
Trading in July continued to be in line with expectations, with September and October the next key period of membership growth as students return to education and working patterns continue to normalise.
Richard Darwin, chief executive of The Gym Group, said: "We are pleased with our financial and operational performance during the first half of 2022, demonstrating the resilience of our business. People across the country rely on our gyms for their physical and mental health, and demand for our affordable, high quality fitness experience is recovering well.
"As we expand, we welcome more members in communities across the UK, and we are making further progress with our ambitious growth plan, with 28 new gym openings scheduled for 2022.
"The future is bright for The Gym Group – our new technology platform, combined with our brand relaunch later this month, positions us well to capture the demand for affordable fitness and take advantage of this once in a generation opportunity for growth."
