Business
2017 Interim Results
2017 Interim Results.
About this update from Gym Group Plc
[{"type":"text","content":"\n \nRNS Number : 2258P The Gym Group plc 30 August 2017 \n\nThe Gym Group plc\n('the Company' or 'The Gym')\n \n2017 Interim Results\nContinued growth in membership, revenue and profit as 100th gym milestone approaches\n \nThe Gym Group plc, the fast growing, nationwide operator of 97 low cost gyms branded 'The Gym', announces its interim results for the six month period ended 30 June 2017.\nFinancial Highlights\n· Revenue of £42.8 million, an increase of 18.8% (H1 2016: £36.1 million)\n· Group Adjusted EBITDA1 of £13.7 million, an increase of 19.1% (H1 2016: £11.5 million); EBITDA margin of 32.0% (H1 2016: 31.9%)\n· Adjusted profit before tax2 of £6.5 million, up 41.7% (H1 2016: £4.6 million)\n· Statutory profit before tax increased by 75.5% to £5.9 million (H1 2016: £3.4 million)\n· Adjusted EPS3 of 3.9p, an increase of 39.3% (H1 2016: 2.8p)\n· Continued strong cash generation with self-funded growth - net debt reduced to £4.6 million (December 2016: £5.2 million)\n· Interim dividend of 0.3 pence per share declared, up 20.0% (H1 2016: 0.25 pence)\n \nOperational Progress\n· Six new gyms opened in H1 2017, increasing the total estate to 95\n· Membership numbers increased by 19.8% to 508,000 (H1 2016: 424,000)\n· Expect to achieve the top end of the guidance range of 15 to 20 sites openings for 2017\n \nJohn Treharne, CEO of The Gym Group, commented:\n\"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. \n \nOur 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.\"\n \nAn audio webcast of the analyst presentation will be availa...