Gym Group PLC (The) Trading Update and Directorate change (0216Z)
January 20 2022 - 2:00AM
UK Regulatory
TIDMGYM
RNS Number : 0216Z
Gym Group PLC (The)
20 January 2022
20 January 2022
The Gym Group plc
("The Gym Group" or the "Company")
Trading Update and Directorate change
Resilient performance in 2021 and encouraging start to 2022
The Gym Group plc, the nationwide operator of 202 low cost 24/7,
no contract gyms, announces that Mark George has given notice of
his intention to resign as CFO and Executive Director to take up
the position of CFO at Wickes Group plc. As a result, the Board has
begun a formal process to identify and appoint a successor to Mark,
who is expected to remain with the Company until July 2022.
The Company confirms that FY21 ended in line with the Board's
expectations with revenue for the year of GBP106.0 million (vs
GBP80.5 million in 2020) up 31.7%.
Performance so far in the important January trading period has
been encouraging. The emergence of the Omicron variant briefly
impacted gym visits in December and early January but visits per
member per week have since returned to normal pre-Covid levels. We
expect the trading environment to show further improvement when the
work from home guidance is removed on 26 January. As at 18 January
2022 total membership had increased to 776,000, up 8% from 718,000
at 31 December.
Richard Darwin, Chief Executive Officer of The Gym Group,
commented:
"January is the month when many people set new health and
fitness goals and has always been an important trading period for
The Gym Group. We have been encouraged to see good levels of gym
usage and new member acquisition so far this year. We continue to
be driven by our purpose to break down barriers to fitness for all
and look forward to providing our growing membership with many
millions of gym visits in 2022.
We have announced today that our CFO, Mark George, will be
leaving later this year. Since joining in 2018, Mark has evolved
and strengthened the Company's finance function and successfully
secured new bank and equity financing, ensuring that the business
is well-placed to deliver its accelerated growth strategy. I would
like to thank Mark for his significant contribution and wish him
every success in his future career. "
Enquiries to:
Tulchan
James Macey-White
Elizabeth Snow
Laura Marshall 0207 353 4200
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END
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