Gym Group flexes profit muscles with maiden dividend
The Gym Group has reported a strong performance in the first half of the year, with growing revenue and profits.
The figures
Turnover for the six months to 30 June came in at £36.1m, up 25 per cent on the same period in 2015.
Adjusted pre-tax profit, meanwhile, was reported to be £4.6m – up from a loss of £0.8m in the first half of 2015.
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The company, which listed on the London Stock Exchange last November, also announced a maiden interim dividend of 0.25 pence.
Why it’s interesting
Gym Group said it had opened six new gyms in the first half of 2016, taking its total to 80.
The company aims to open 15 to 20 over the course of the year and has a “strong pipeline” for 2017.
Some 11.2m visits were recorded over the six months – up from 2.1m in the first half of 2015 – and membership numbers were up 19.4 per cent to 424,000.
Read more: Gym Group's share price falls as losses widen
What the company said
Chief executive John Treharne:
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.
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