(Sharecast News) - The Gym Group said it is confident in its full-year outlook after a strong first half, in which revenues rose by 10% and membership numbers rose to nearly one million.
The budget gym chain reported revenues of £133.1m for the six months to 30 June, up from £121.0m the year before, with average revenue per member per month rising 5% to £22.14.

The company said it ended the period with 991,000 members, up from 923,000 six months earlier and 949,000 12 months before.

The Gym Group said it remains on track to open at least 20 gyms this year, after opening four in the first half. The company is currently on site at two sites and have exchanged on a further 11.

As a result of the opening and refurbishment programmes, along with the continuation of a share buyback plan, the company said it expects net debt to increase from the £58m level at 30 June.

"We are pleased with our trading performance year to date which reflects the continued appeal of our proposition and strength of customer demand," said Gym Group boss Will Orr.

"Reaching one million members during the period is an encouraging milestone for us in a UK fitness market that continues to grow. We remain focused on the disciplined execution of our growth strategy and confident in the full year outlook."

The stock was down 2.1% at 210.52p by 1156 BST.

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