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Annual Results

The Gym Group swings into profit

14 March 2017 07:32

The Gym Group's revenues rose to £73.5 million in the year to the end of December, an increase of 22.6% on last time.

Group Adjusted EBITDA rose by 33.4% to £22.7 million and adjusted earnings per share increased to 5.6p from an adjusted loss of 1.8p per share last time.

The group reported an adjusted profit before tax of £8.7 million against an adjusted loss before tax of £2.0 million a year ago and a statutory profit before tax of £6.9 million compared with a loss of £12.4 million in 2015.

Chief executive John Treharne said: "2016 has been a good year with strong financial and operational progress.

"Our existing estate continues to deliver excellent returns and our low cost, 24/7, no contract model is disrupting the market and attracting new members.

"We will continue to expand rapidly in 2017 through a well developed site pipeline.

"We have had an encouraging start to 2017 with January and February, key months for any gym business, showing record membership levels with an increase in members to 495,000."

Story provided by StockMarketWire.com

Related Company: GYM

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