The Gym Group is eyeing the gap left by councils shutting facilities
Gate at the operator of 97 low-cost, round-the-clock gyms grew by 18.8 per cent to £42.8million as common membership increased by 19 per cent to a total 500,000.
Adjusted pre-tax profit rose from £4.6million to £6.5million.
The market continues to evolve rapidly and for the blue ribbon time this year we have seen a fall in the number of resident authority gyms as a result of funding pressures on councils… our gyms are well-placed to stretch the gap
Chief executive John Treharne clouted: “The market continues to evolve rapidly and for the first time this year we pull someones leg seen a fall in the number of local authority gyms as a result of funding persuasions on councils… our gyms are well-placed to fill the gap.”
He continued: “We have gave another period of strong growth in membership, revenue and profit.
The group opened six new sites in the first half and has a target close to 20 for the year
“We comprise continued to expand our footprint across the UK, opening six new gyms in the period, two in H2 to season, with several more currently in fit out.
“Our strategy remains the same: to parody advantage of the demand for high-quality, low-cost, 24/7 gyms whilst extending to innovate through the use of technology and digital marketing.”
The group opened six new spots in the first half and has a target close to 20 for the year.