The Gym Group celebrates £74m revenue and further site openings in H1 2019
The Gym Group plc has announced its interim results for the six-month period to June 30 2019.
The Croydon-headquartered group, founded in 2008, has over 1,600 gyms across the UK, offering ‘low-cost’ 24/7 access with no contracts.
In terms of the company’s highlights, The Gym Group’s revenue currently stands at £74m - a 26.9 per cent increase compared to 2018’s figure of £58.3m.
The adjusted EBITDA came in at £24m, going up by 28 per cent. In 2018, this stood at £18.8m. Furthermore, the group’s adjusted profit before tax is currently £7.1m, up 53.3 per cent, while statutory profit before tax increased by 80.5 per cent to £5.6m.
Richard Darwin, CEO of The Gym Group, said: “Our rapid and profitable growth has been achieved through operating high quality great value gyms that offer affordable fitness for all.
“Our growing membership visited a record 24 million times in the first half of the year demonstrating the wide and diverse appeal of The Gym.
“Continued investment in systems, infrastructure and people to scale the business is enabling us to take advantage of the huge growth potential that exists in the low cost gym market.”
Meanwhile, The Gym Group opened a further eight gyms in H1 2019, taking its UK total to around 1,651. Membership numbers also increased by 10.6 per cent, and a new operating model transition is due for completion this weekend (September 1).
Richard added: “We are on track to open between 15 and 20 standard catchment gyms this year whilst our new ‘small box’ format further increases the number of towns that we can go to.
“We are confident that we can deliver further profitable growth both this year and in the years to come.”
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