Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guides
Guidance and tools
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks Stock plan guidance
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Gym Group FY revenues grow as members grow
(Sharecast News) - Fitness club operator The Gym Group said on Wednesday that "positive trading trends" highlighted in its interim results had continued throughout the remainder of the year, resulting in "good growth" in both membership and yield. The Gym Group said revenue increased by 18% to £204.0m in 2023, with average members up 8% to 872,000 and average revenue per member per month up 9% at £19.50. Like-for-like revenue grew 8% year-on-year.
Net debt was £66.4m at the end of December, compared with £76.1m aa year earlier, reflecting a "strong working capital performance" and the timing of spend on new site openings and other capital expenditure projects.
As anticipated, revenue growth offset utility-driven cost inflation and leverage was now expected to remain within the range of 1.5x to 2.0x.
Chief executive Will Orr said: "We have delivered good growth in both membership and revenue which will underpin FY23 results in line with guidance, and we are well-prepared for our key recruitment period in the coming quarter, with a flexible, high-value low-cost offer that makes gym membership even more accessible for everyone.
"These are strong foundations on which to build our 'Next Chapter' growth plan and I will provide an update on this with our full-year results in March."
As of 0900 GMT, Gym Group shares were up 2.85% at 108.20p.
Reporting by Iain Gilbert at Sharecast.com
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
