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Interim Results

Gym Group swings into the black

31 August 2016 08:05

The Gym Group swung into profit in the six months to the end of June after revenues rose by 25.1% to £36.1 million.

Adjusted EBITDA increased by 35.2% to £11.5 million and the group posts an adjusted pre-tax profit of £4.6 million against a loss of £0.8 million last time. On a statutory basis, the group made a pre-tax profit of £3.4m against a loss of £3.3m last time.

The group has declared a maiden dividend of 0.25p per share.

Chief executive John Treharne said: "Excellent progress has been achieved so far in 2016 as demonstrated by the growth in membership.

"Our rollout is on track with six sites opened in H1. We remain on target for 15-20 for the year and have a strong pipeline for 2017. Our existing sites are performing well which has contributed to the Group's strong growth in profitability.

"We are confident that our low cost, disruptive positioning in the market place, our well-developed roll out plans and our strong financial position bode well for further rapid and measured profitable development and progress, whatever the economic environment."

At 8:05am: (LON:GYM) The Gym Group Plc share price was -1p at 228.5p

Story provided by StockMarketWire.com

Related Company: GYM

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