The Gym Group has said it is on track to expand its footprint across the UK with the opening of up to 20 more gyms this year.
It also plans to open between five and eight of its more compact box sites which cover between 5,000 sq ft and 9,000 sq ft, compared to its standard gyms.
The firm currently operates 175 low cost gyms and its membership numbers hit 794,000 in December, up from 724,000 in 2018.
The Gym Group said in a trading update that the growth of its estates was being largely funded from operating cash flows.
Growth in average revenue per member per month grew by 7.6% to £16.02, compared to £14.89 in 2018, on the back of increased penetration from its LIVE IT membership product and an increase in average headline price.
Total revenue was also up in December to £153.1m, from £123.9m in 2018. Its non-property net debt stood at £47.7m.
Chief executive Richard Darwin said: “2019 has been another very successful year in which The Gym Group has again delivered substantial growth in members and revenue.
“We expanded our business by 20 sites in 2019, which included the first two of our new small box gym concept, which delivers low-cost fitness to smaller towns.
“There remains a long runway of potential sites in the UK and, with our small-box roll-out under way, we plan to accelerate the expansion of our gym estate in the coming year.
“We have built scale and a strong platform over the past few years and with an encouraging start to January trading, we anticipate 2020 will be another year of significant progress.”
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