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Interim Results

The Gym revenues rise as membership grows

30 August 2017 07:21

The Gym Group's revenues rose by 18.8% to £42.8m in the six months to the end of June following continued growth in membership.

Group adjusted EBITDA increased by 19.1% to £13.7 million,

The EBITDA margin was 32.0% (H1 2016: 31.9%).

Adjusted profit before tax of £6.5 million was up 41.7% and statutory profit before tax increased by 75.5% to £5.9 million.#

Adjusted EPS of 3.9p, an increase of 39.3% and the group saw continued strong cash generation with self-funded growth - net debt reduced to £4.6 million (December 2016: £5.2 million).

The group declared an interim dividend of 0.3 pence up 20.0%.

Chief executive John Treharne said: "We have delivered another period of strong growth in membership, revenue and profit.

"We have continued to expand our footprint across the UK, opening six new gyms in the period, two in H2 to date, with several more currently in fit out.

"Our strategy remains the same: to take advantage of the demand for high quality, low cost, 24/7 gyms whilst continuing to innovate through the use of technology and digital marketing.

"As usual, our openings programme is second half weighted and we anticipate achieving the top end of our guidance range of 15 to 20 site openings in 2017."

Story provided by StockMarketWire.com

Related Company: GYM

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