Low cost gyms booming

BUDGET health club operator The Gym Group has posted a maiden profit as thousands more fitness enthusiasts flocked through its doors.

Revenues at the no-frills chain rose 25.1pc to £36.1m for the first half of the year, in which it opened six new gyms.

The firm has also snapped up four of Fitness First’s 70 sites after it was revealed the embattled health club group would be broken up.

The Gym Group’s founder and chief executive John Treharne – a former England squash player – said ‘excellent progress’ had been made and it remained on target to open 15 to 20 gyms over the year.

Despite the positive update, the shares closed down 8.5pc, or 19.5p at 210p.