The Gym Group plans to open 50 new sites in urban areas over 3 years, despite a £8.3m pre-tax loss and 18% revenue growth to £204m in 2023.
The UK's low-cost gym operator, The Gym Group, plans to open 50 new sites over the next three years, targeting urban residential areas like Greater London. Despite a pre-tax loss of £8.3 million, the company reported an 18% revenue growth to £204 million in 2023 and an 8% increase in the number of members. The Gym Group currently manages 233 gyms nationwide and plans to accelerate its new site openings, with up to 12 openings planned for this year.
March 13, 2024
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