The Gym Group rallies on

The Gym Group rallies on

The Gym Group, founded by former England squash player turned entrepreneur John Treharne, has seen profits and revenues rise as it cashes in on Britain's fitness boom.

The Gym Group which was setup by John Treharne back in 2018 saw turnover rise 25.1% to £36.1m in the first half of the year, with pre-tax profits coming in at £4.6m.

John has a successful track record in the gym business. He opened his first health club chain, Dragons Health Clubs, in 1991, building the business to a total of 22 clubs.

He went on to float the company in 1997, and in 2000 he and his investors sold it on. He then spent time lending his expertise to premium gym chain Esporta, before concentrating on the launch of The Gym Group.

Speaking about the group's latest results, Treharne said: "Excellent progress has been achieved so far in 2016 as demonstrated by the growth in membership.

"Our existing sites are performing well which has contributed to the group's strong growth in profitability."

Treharne added that should the economy take a turn for the worse, the Gym Group will become "even more attractive to consumers."

"If the external environment becomes more challenging our value proposition will become  even more attractive to consumers - the Gym Group opened its first gym in the wake of the financial crisis in 2008 and  its model is designed to perform well in all types of economic conditions," he said. 

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

The group, which listed on the stock market in November, opened six new gyms in the period, bringing the total estate to 80.

Treharne said The Gym Group is on track to meet full-year expectations, with analysts pencilling in pre-tax profits of up to £9m.

 

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