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Gym Group H2 loss narrows YOY

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Gym Group H2 loss narrows YOY

Gym Group PLC said its second-half normalized net income was a loss of £748,130, compared with a loss of £4.5 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue grew 32.8% year over year to £31.1 million from £23.4 million, and total operating expenses climbed 12.9% year over year to £28.7 million from £25.4 million.

Reported net income totaled a loss of £7.5 million, or a loss of 6 pence per share, compared to a loss of £6.0 million, or a loss of 6 pence per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 3 pence per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 3 pence.

EPS was a loss of 13 pence in the prior year.

Normalized net income was a loss of £1.9 million, compared with a loss of £6.5 million in the prior year.

Full-year total revenue increased 31.9% on an annual basis to £60.0 million from £45.5 million, and total operating expenses grew 24.5% on an annual basis to £55.0 million from £44.2 million.

The company said reported net income came to a loss of £11.5 million, or a loss of 19 pence per share, in the full year, compared with a loss of £8.8 million, or a loss of 18 pence per share, the prior year.