Gym's major expansion plans

Gym's major expansion plans

Gym Group (GYM) is pressing ahead with expansion plans. During 2018 it opened 17 new gyms and acquired 13 from easyGym, bringing the total estate to 158 locations. The average number of members was up by nearly a third to 693,000, with 11.7 per cent of members taking up the premium LIVE IT option. The company is aiming to open another 15 to 20 new sites during the current financial year, with one “small box” option. Chief executive Richard Darwin said he doesn’t expect the company to turn to outside funding this year, after it raised equity in 2018, and future openings should be funded through cash generated.

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