[ad_1]
The Gym Group have announced that they are planning to open 50 new sites over the next three years.
Despite the challenging economy the low cost company have said they are well placed to benefit from the current climate.
Revenues for the group rose by 18% to £204 million last year compared to the year before which is a result of a rise in gym membership which was up 8% in the year to 850,000 members.
The gym group had a strong January and February which saw revenues grow by 16% in the period as there has been an increase in membership this year.
The company posted a pre-tax loss of £8.3 million in the year which is lower compared to £19.4 million the previous year.
Chief executive Will Orr told the PA news agency, “We think we can open around 50 new sites over the next three years.
“Although we will always prioritise quality. We would rather open 48 of the right sites than try to force ourselves to the 50 numbers.
“There are some opportunities out there from a real estate point of view and we’ve had some really exciting new gyms.
“We have been targeting urban residential areas, so particularly places like Greater London.”
[ad_2]
Source link
