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Gym Group reports stronger-than-expected reopening; seasonal norms to return
StockMarketWire.com
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Low cost gyms operator The Gym Group said performance since reopening had been than expected, and estimated that trading would return to seasonal norms over the quieter summer months.
Since reopening gyms, total membership has increased from 547,000 at the end of February 2021 to 729,000 by 24 May 2021 versus 794,000 in December 2019.
'Our expectation is that over the next three months we will trade more in line with seasonal norms,' the company said.
'The summer months are historically quieter times for gyms and as a result we tend to see limited net gains in overall membership levels during this period,' it added.
The company opened four new gyms since 12 April 2021, in Chichester, York, Cambridge and London Sydenham, taking the total estate to 187.
At 9:22am: (LON:GYM) The Gym Group Plc share price was 0p at 198.8p
Story provided by StockMarketWire.com
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