Gym Group confident in outlook as first half revenue, membership grow

Gym Group PLC on Wednesday said good trading momentum has continued through the first half of 2025, as membership numbers tick up.

The Croydon, London-based gym chain said in the first half of the year like-for-like revenue was up 3% compared to the prior year.

Revenue for the six months to the end of June was up 7.9% to £121.0 million from £112.1 million a year ago.

The average number of members climbed 4.3% to 953,000 from 914,000, while average revenue per member per month grew 3.5% to £21.16 from £20.44.

Gym Group said it closed the period with 949,000 members, compared with 891,000 at the end of December and 905,000 at the end of June 2024.

During the first half of the year it opened three new gyms and is currently on site at a further four locations. The company said it is on track to open between 14 and 16 gyms in 2025, while one city centre gym was closed in the period.

Net debt at the end of the first half was £51.2 million, compared to £61.3 million at the end of December and £54.6 million a year ago.

Gym Group said it expects net debt at the end of 2025 to trend back towards the level from December 2024, as its new gym opening and refurbishment programmes are weighted towards the second half.

Gym Group will release its interim results on September 10.

‘We have delivered continuing momentum in the first half of the year, with further good growth in membership and yield,’ said Chief Executive Officer Will Orr.

‘We are seeing excellent performance in our new sites, supported by a more tailored marketing approach and the evolution of our site proposition. We remain confident in the full year outlook and look forward to updating the market more fully in September.’

Shares in Gym Group were up 0.5% at 158.80 pence in London on Wednesday afternoon.

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