The Gym Group with accelerated profitable growth
Gym Group plc, which currently has 130 clubs, is one of the leading operators in the low budget segment in the UK, announces its results for the year ended December 31, 2017: Revenue of £91.4 million, an increase of 24.3% and Group Adjusted EBITDA2 of £28.0 million, an increase of 23.2%. The company has opened 21 new gyms and acquired 18 from Lifestyle Fitness in 2017, increasing the total estate to 128. The total year end members are at 607,0005, an increase of 35.5% versus prior year.
John Treharne, CEO of The Gym Group, commented: "We have made considerable progress in 2017 and were the fastest growing low cost fitness operator, substantially increasing our market share and rapidly expanding our estate. We continue to see potential for substantial growth in 2018 as we plan to open a further 15-20 new gyms and benefit from the profitability of those sites opened in recent years reaching maturity. We have had a strong start to 2018 and are excited about the future and confident in our team's ability to maximise our opportunity"