The Gym Group sales jump by a 10th after membership prices increased

Investment in its sites has helped The Gym Group flourish, according to AJ Bell’s head of markets Dan Coatsworth.

The low-cost gym operator’s revenues rose by 10 per cent to £133 million for the first six months of the year.

Having already opened four new gyms so far in 2026, the Gym Group revealed plans to have at least 20 openings this year.

Coatsworth said: “Gym Group has flexed its muscles with memberships, revenue and profit all up in the first-half period, and full-year earnings seen at the top end of forecasts.

“The company is seeing the benefits of doing some heavy lifting on its sites, with upgraded gym formats resulting in improved performance at both new and refurbished locations.

“This investment is fuelled by strong free cash flow, and it continues to roll out new sites while still having cash on hand to fund share buybacks.

“Investors will be alive to the risks of the gym industry becoming oversaturated after significant site expansion across the UK in recent years.

“While there has been a lifestyle shift with younger age groups prioritising their health and fitness over pub trips and other areas of discretionary spend, this may have a limit.

“For now, the expansion in Gym Group’s memberships is reassuring, with growth in this area modestly higher in the first half of 2026 than it was for 2025 as a whole.”