Leisure Opportunities 21st March 2017 Issue 706

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leisure opportunities 21 MArch - 4 APRIL 2017 ISSUE 706

Daily news & jobs: www.leisureopportunities.co.uk

Gym Group profits up as estate grows The Gym Group turned around Its main low-cost rival, Pure losses of £12.7m for 2015 to post a Gym, attempted to float on profit of £6.9m in 2016 following the stock market last year, but its move onto the stock market. abandoned the move due to Revenue increased year-on“challenging conditions”. year by 22.6 per cent, from Around 35-40 per cent of £60m to £73.5m, while the The Gym Group’s sites are number of members shot up in London and the South East, but Treharne caveated by 19.1 per cent to 448,000. that the company plans to T h is w as i n p ar t du e continue to spread its reach to 15 new g yms opening in 2016, incre asing The “far and wide across the UK”. Gym Group’s total estate to 89. In fact, he highlighted As well as increased extensive growth in university quantity, Gym Group chief towns, with students now executive John Treharne told making up 35 per cent of the Leisure Opportunities that as organisation’s membership base. a result of the IPO reducing Treharne said the IPO had made it easier for the company to secure better sites Treharne explained that the debt in the organisation’s low-cost membership and 24/7 balance sheet, the company had been able commented that the IPO also helped The nature of the offer was driving this growth. Gym Group secure the best covenant While he said that opening sites within to “secure the very best sites going forward”. The Gym Group has already exchanged compared to all the equivalent operators as university campuses was a “possibility”, it would on 17 sites for 2017, with the possibility of “landlords do ascribe a superior convenance need to be something city centre-based to be that number increasing to its upper target of to a PLC company”. The Gym Group “readily accessible to the local population.” 20. Chief financial officer Richard Darwin floated on the stock market in late-2015. Details: http://lei.sr?a=e7n6A_O

British Cycling public funding safe – for now The public funding which elite sport quango UK Sport distributes to British Cycling is not under immediate threat – despite the assertion that the governing body’s credibility is in “tatters”. It was described as such by Culture Media and Sport Committee chair Damian Collins following an explosive hearing into the controversial medical package flown out from British Cycling’s Manchester headquarters to Sir Bradley Wiggins at the 2011 Criterium du Dauphine. Continued on back cover

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2017 ticket offer to ‘inspire youth’ An offer which allows school children to watch the World Para Athletics Championships in London for £3 will inspire them to get involved in sporting participation, according to sports minister Tracey Crouch. Around 90,000 pupils will receive discounted entry for the event at the London Stadium (formerly the Olympic Stadium) – which takes place from 14 to 23 July 2017. Ac c o m p a n y i n g t e a c h e r s , p a r e n t and adults will be granted free admission. Crouch said: “It is an absolutely fantastic offer and a real opportunity for people to see heroes. I think it’s really important

Triple Rio 2016 gold medallist Hannah Cockroft is expected to be competing at the Championships

we enable people to see world-class para sport. It will go on to inspire many people to get involved in sport, whether it’s para sport or another type of sport. “I think it’s a real opportunity for school children to see their heroes from Rio last year and engage in sport in general.” Details: http://lei.sr?a=6w5g2_O