The Gym Group announced on Thursday that its first-half revenue increased due to a strong growth in membership and average revenue per member. The company expects to meet market expectations for the full year.
Revenue and Membership Numbers
Revenue for the first half of the year reached £99.8 million ($129.6 million), up from £84.2 million in the previous year. Membership numbers also saw a significant growth, reaching 867,000 as of June 30, compared to 790,000 the previous year.
Average Revenue per Member
In addition to the increase in membership, the average revenue per member per month rose by 8% to £18.81.
Debt Reduction
The company also reported a reduction in net debt as of June 30. The debt decreased to £69.7 million from £76.1 million.
Positive Outlook
Gym Group expressed confidence in its plans and stated that it is well-positioned to meet market expectations. However, specific financial figures were not provided.
Strong Management Team
Chair John Treharne emphasized the efforts made over the past nine months to assemble a new management team with the necessary skills and experience. He also highlighted the strengthening of the company’s board, stating that Gym Group is well-prepared for its current stage of development.
