The outgoing chief executive of The Gym Group said that the low-cost fitness sector still had plenty of growth potential as the company reported a 36% jump in half-year revenues.
John Treharne, who will hand the baton to Richard Darwin, the finance chief, while remaining on the board, said estimates that the number of low-cost gyms could grow from 598 to 1,000 over the next few years were conservative.
He acknowledged that other parts of the market were “very static”, but insisted that the low-cost sector remained in rude health, albeit with The Gym Group and Pure Gym accounting for 60% of all openings.
