Gym Group PLC (The) Pre-Close Trading Update (8587F)
July 13 2023 - 1:00AM
UK Regulatory
TIDMGYM
RNS Number : 8587F
Gym Group PLC (The)
13 July 2023
13 July 2023
The Gym Group plc
("The Gym Group" or "the Group")
Pre-close trading update
Leading low-cost gym operator, The Gym Group plc, is pleased to
announce that positive trading trends have continued in H1 2023
with good growth in membership and yield. For the period ending 30
June 2023, revenue has increased by 18.5% to GBP99.8m (H1 2022:
GBP84.2m) with membership of 867,000 as at 30 June 2023 compared
with 790,000 at 30 June 2022 and 821,000 at 31 December 2022. H1
average revenue per member per month (ARPMM) was up 8% to GBP18.81.
Like-for-like revenue grew 7% year on year [1] and comparable sites
are running at 97% compared with 2019 [2] . In the first half, The
Gym Group opened two new sites and closed one site.
Net debt as at 30 June 2023 was GBP69.7m, compared with GBP76.1m
at the financial year end.
As previously announced on 31 May, Will Orr will join The Gym
Group as CEO on 1 September 2023. Interim results will be announced
on 12 September 2023.
John Treharne, Chair of The Gym Group, commented:
"After a positive first half, we remain on track with our plans
and are well set to meet full year market expectations. We have
continued to grow our membership and yield, whilst controlling our
costs and generating cash. We are delighted that Will Orr will join
us as CEO in September. We have put in place a new management team
with the right blend of skills and experience over the past nine
months, as well as further strengthening our Board. The Gym Group
is therefore well placed for the next stage of its development,
bringing a high quality health and fitness proposition at an
affordable price point to the communities in which we operate."
For further information, please contact:
The Gym Group plc via Instinctif
John Treharne, Chair
Luke Tait, CFO
Katharine Wynne, IR
Instinctif Partners (Financial
PR)
Justine Warren
Matthew Smallwood
Joe Quinlan +44 (0)20 7457 2020
Notes for editors:
The Gym Group was a pioneer of the low-cost gym model, and now
operates 230 high quality sites across the UK. These gyms offer
24/7 opening and flexible, no-contract membership. As at 30 June
2023 there were 867,000 members nationwide. Our gyms have over 53
million visits per annum, score highly on member satisfaction and
are consistently rated "excellent" on Trustpilot. The Gym Group is
the UK's first carbon neutral chain of gyms.
[1] Like-for-like Revenue vs 2022 includes all sites open as at
31 December 2020
[2] Like-for-like Revenue vs 2019 includes all sites open as at
31 December 2018
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END
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