Shares in The Gym Group (LON: GYM) rose sharply on Wednesday after the low-cost fitness operator posted a strong set of interim results and told investors it expects full-year earnings to come in at the top end of analysts’ forecasts.
The stock climbed as much as 5.7% in early trading, changing hands at 204p, up from Tuesday’s close of 193p. Shares opened the session at 200p before extending gains to a high of 204p.
The rally followed a trading update showing revenue for the six months to 30 June rose 10% to £133.1m, with average membership up 5% to one million and average revenue per member up 5%. Group Adjusted EBITDA Less Normalised Rent, the company’s preferred profitability measure, increased 12% to £30.8m, while statutory profit before tax jumped 48% to £4.9m.
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Free cash flow rose 10% to £27.7m, helping fund new site openings, refurbishments and a £10m share buyback, of which £3.8m was completed in the first half.
Chief executive Will Orr said the results reflected “the continued appeal of our high value, low cost proposition,” and highlighted reaching one million members as “an encouraging milestone.”
The company reiterated guidance for 3% like-for-like revenue growth for the full year and said cost growth is now expected at the lower end of its 3-4% guided range, prompting management to lift its profit outlook to the top end of current analyst expectations.
The Gym Group operated 264 sites as of the end of June and plans to open at least 20 new locations in 2026 as part of its “Next Chapter” growth strategy.
