The Gym Group announced a “strong recovery” on the back of an increase in its premium multi-site membership numbers, in a trading update ahead of New Year trading.
Following the re-opening of its gyms after lockdown restrictions were lifted, the company saw take-up of its premium multi-site membership, LIVE IT, increase to 27.1% by the end of November from 24.7% in June 2021 and 22.5% in December 2020.
Total member numbers grew from 547,000 in February 2021 to 753,000 at the end of October 2021, but have since declined to 735,000 as of 30 November 2021.
The company said it is trading in line with market expectations for FY 2021 for its key profit measure of group adjusted EBITDA less normalised rent.
It remains on track to deliver its organic rollout plan, targeting 40 new openings in the 18 months to December 2022.
As of 30 November 2021, the group had non-property net debt of £35.9mln and £73.6mln of liquidity headroom.