The Gym Group plc Capital Markets Day Trading Update (0003I)
June 14 2017 - 2:00AM
UK Regulatory
TIDMGYM
RNS Number : 0003I
The Gym Group plc
14 June 2017
14 June 2017
The Gym Group Plc
Capital Markets Day Trading Update
("the Group")
Continued strong progress and trading
The Gym Group plc, the fast growing, nationwide operator of 94
low cost gyms branded "The Gym", announces a trading update ahead
of its Capital Markets Day for institutional investors and analysts
being held today. The presentation that will be made at the meeting
will be uploaded to the Company's website later today. A site visit
to the Group's Lewisham Gym will follow the presentation. No
additional trading information other than that disclosed below will
be discussed at the meeting.
-- Trading for the first five months of the year has met the
Board's expectations and profit for the full year 2017 is
anticipated to be in line with consensus market expectations.
-- Six new gyms will have opened by the end of the first half
increasing the total estate to 95 sites. Two of the sites at
Holborn Circus and Bloomsbury(1() were sites acquired from Fitness
First UK in August 2016 and were subject to a full strip out and
refurbishment to the Gym Group specification. The other sites
opened are at Edinburgh Murrayfield, High Wycombe, Altrincham and
Rotherham. All sites opened in 2017 are trading as expected.
-- Total members at 31 May 2017 of 507,000, up 19.6% versus H1
2016 (30 June 2016: 424,000). Average membership for the five
months is 498,000 up 18.6% versus H1 2016 (six months to June 2016:
420,000)
-- The pipeline continues to be strong for the remainder of 2017
and is building well for 2018. We currently have a further 20 sites
exchanged for 2017 and 2018. We reiterate our guidance that we
expect to open towards the top end of our expected range of 15 to
20 openings for the full year.
-- The Group expects to announce its Interim Results at the end of August 2017.
John Treharne, CEO of The Gym Group, commented:
"The Group continues to trade strongly with membership
increasing by nearly a fifth year on year to over 500,000. Six new
gyms will have opened in the first half of the year and we are on
track to meet our guidance which is towards the top end of our
15-20 range. There remains a substantial opportunity with strong
fundamentals underpinning our growth and we are confident in
delivering continued profitable progress."
(1) Bloomsbury opens on 21 June 2017
For further information, please contact
The Gym Group via Instinctif
John Treharne, CEO
Richard Darwin, CFO
Numis
Oliver Cardigan
Oliver Hardy
Toby Adcock 0207 260 1000
Instinctif
Matthew Smallwood
Justine Warren 0207 457 2020
This information is provided by RNS
The company news service from the London Stock Exchange
END
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