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Gym Group beefs up membership amid £9m profits forecast

Published 05/07/2016

The Gym Group is on track for full-year profit expectations
The Gym Group is on track for full-year profit expectations

The Gym Group continues to flex its muscles and cash in on the growing trend among Britons to get fitter.

The company reported a 19.4% surge in members over the first half and now has 424,000 people on its books.

Chief executive John Treharne said: "This is another strong performance underlining the strength of our business model, the power of our low-cost proposition and the success of our rollout."

Mr Treharne added that the Gym Group is on track to meet full-year expectations, with analysts pencilling in pre-tax profits of up to £9 million.

Last year, the firm recorded an adjusted pre-tax profit of £5.3 million on sales of £60 million.

The group, which listed on the stock market in November, opened six new gyms in the period, four of them within the M25.

The firm also announced a raft of board changes. David Kelly, founder of mydeco.com, has been appointed independent non-executive director and chief operating officer Jim Graham has announced that he will step down.

Former Mothercare man Nick Henwood has been drafted in to the role of operations director.

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