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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| The Gym Group Plc | LSE:GYM | London | Ordinary Share | GB00BZBX0P70 | ORD 0.01P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 110.40 | 110.20 | 111.20 | 111.40 | 110.20 | 111.00 | 83,363 | 16:35:28 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Physical Fitness Facilities | 204M | -8.4M | -0.0471 | -23.61 | 198.38M |
From Apr 2019 to Apr 2024
TIDMGYM
RNS Number : 5308B
The Gym Group plc
04 April 2017
4 April 2017
The Gym Group Plc
('the Company')
Annual Report and Accounts 2016 and Notice of 2017 Annual General Meeting
Following the announcement on 14 March 2017 of its full year results for the year ended 31 December 2016 (RNS: 3181Z), the Company announces that it has posted its Annual Report and Accounts 2016.
The Company also announces that it will hold its Annual General Meeting at 11.00am on Tuesday 6 June 2017 at the offices of Allen & Overy LLP, One Bishops Square, London, E1 6AD.
Copies of the Annual Report and Accounts 2016 and the Notice of the 2017 Annual General Meeting are available to view on the Company's website at http://www.tggplc.com/. They have also been submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.hemscott.com/nsm.do.
Copies of those documents, together with a form of proxy for use in connection with the 2017 Annual General Meeting, have been posted or otherwise made available to the Company's shareholders today.
For further information, please contact
Hot Features
Premium
The Gym Group via Instinctif
Partners
John Treharne, CEO
Richard Darwin, CFO
Instinctif Partners 0207 457 2020
Matthew Smallwood
Justine Warren
Appendix
The additional information set out below, which is extracted from the Annual Report, is included in compliance with Disclosure and Transparency Rule 6.3.5. This information should be read in conjunction with the Annual Report as a whole:
Principal Risks and Uncertainties
Risk Management
In order to gain an understanding of the risk exposure of the Group we review each area of our business annually and use a methodology that will assist the Group in measuring, evaluating, documenting and monitoring its risks within all areas of its operations.
We use our risk management process as described to identify, monitor, evaluate and escalate risks as they emerge, enabling management to take appropriate action wherever possible in order to control them and also enabling the Board to keep risk management under review. During the year the Board also worked to define its appetite towards risk and metrics against which risk appetite can be monitored.
Principal Risks
The risk factors addressed below are those which we believe to be the most material to our business model, which could adversely affect the operations, revenue, profit, cash flow or assets of the Group and which may prevent us from achieving the Group's strategic objectives. Additional risks and uncertainties currently unknown to us, or which we currently believe are immaterial, may also have an adverse effect on the Group.
Principal risk Impact Mitigation
----------------------- ------------------------ -------------------------------------------------------------------
Competition
----------------------------------------------------------------------------------------------------------------------
The Group may The ability of
face increased the Group to hold * Maintain price discipline and leadership.
competition and or increase prices
pressure from and therefore
competitor pricing achieve performance * Maintain focus on choosing the best sites in a
decisions. targets could geographical area.
be affected.
* Continue to invest in the member proposition.
----------------------- ------------------------ -------------------------------------------------------------------
Organic rollout
----------------------------------------------------------------------------------------------------------------------
Site scarcity Delays to our
may affect the rollout plan may * Our highly experienced property team are focused on
delivery of our have adverse impact site selection and sourcing the best deals.
rollout plan. on growth targets
and operational
returns.
----------------------- ------------------------ -------------------------------------------------------------------
Member experience
----------------------------------------------------------------------------------------------------------------------
Failure to provide Reductions in
members with a actual or perceived * Monitor utilisation, NPS & Feefo scores
high quality product customer service
and service would could result in
damage the Group's a decrease in * Enhance monitoring and feedback processes.
reputation. membership numbers
and revenue generation.
* Ongoing review of equipment usage to ensure we meet
member requirements.
* Explore further innovations to improve the member
experience.
----------------------- ------------------------ -------------------------------------------------------------------
Staff retention
----------------------------------------------------------------------------------------------------------------------
Loss of key staff A lack of experienced The Group uses
through retention and motivated a variety of techniques
policy and failure staff will have to attract, retain
to manage succession. a detrimental and motivate staff
impact on all at all levels
areas of the business, across the business.
from operations These techniques
to central functions. include:
* Competitive remuneration packages;
* Opportunities to own shares in the Company;
* Opportunities for training and progression;
* Short, clear reporting lines;
* Succession planning.
----------------------- ------------------------ -------------------------------------------------------------------
Information technology dependency
----------------------------------------------------------------------------------------------------------------------
Our ability to Disruption in
enroll members, critical IT systems * Our primary data systems are hosted by
carry out online could have a negative fully-qualified organisations in suitable data
marketing activity, impact on our centres.
process payments reputation and
and control gym our ability to
access is dependent collect revenue. * Our primary IT infrastructure is fully managed by
on the performance specialist IT companies who provide best-practice
of our IT systems. architecture and support.
* All membership and business information is backed up
using third party locations.
* Robust disaster recovery and business continuity
plans are in place.
----------------------- ------------------------ -------------------------------------------------------------------
Data protection
----------------------------------------------------------------------------------------------------------------------
The Group holds Unauthorised access,
business critical loss or disclosure * The Group's networks are protected by firewalls and
and confidential of this information secure passwords.
information may lead to legal
electronically. claims, regulatory
A breach of security penalties, disruption * All sensitive online data capture and data
or data protection of operations presentation is SSL encrypted. Our website and member
rules is a key and reputational management system are scanned quarterly to be PCI
risk. damage. compliant. Access to the central member database
requires 2-Factor Authorisation.
* All financial data relating to customers is stored on
external PCI Compliant and, where relevant, BACS
approved systems managed by external payment
providers. The Group does not store or retain any
customer financial data in its own online systems.
----------------------- ------------------------ -------------------------------------------------------------------
Outsourcing model
----------------------------------------------------------------------------------------------------------------------
The Group operates As the Group grows
a largely outsourced there is risk * Ensure quality suppliers are chosen through well-run
model, including that delivery tender processes.
areas such as from service providers
information technology is either unreliable
systems, payment or of unsatisfactory * Understand and seek to mitigate supplier key-man
processing and quality. risks.
marketing. It
risks overdependence
on third party * Service level agreements for all key suppliers.
operational delivery.
* Members of management monitor service levels and hold
suppliers to account.
* Ongoing assessment of whether any services should be
moved to an insourced resource.
----------------------- ------------------------ -------------------------------------------------------------------
Operational gearing
----------------------------------------------------------------------------------------------------------------------
High operational A limited number
gearing from the of corrective * Monthly monitoring and reforecasting of business
fixed cost base. options in the performance at site level.
cost base could
be made to correct
any underperformance * Active yield management on a gym by gym basis.
in membership
numbers, which
could have an * Regular financial management by senior management
adverse impact team and Board.
on profitability.
----------------------- ------------------------ -------------------------------------------------------------------
Regulatory
----------------------------------------------------------------------------------------------------------------------
Failure to adhere Potential reputational
to regulatory damage and penalties. * The Board has oversight over the management of
requirements such regulatory risk and compliance, and delegates
as the Listing specific responsibilities to senior management.
Rules, taxation,
the Data Protection
Act, health and * Expert opinion sought where relevant.
safety requirements,
planning regulations,
noise abatement * Legal advice taken to ensure systems, processes and
and advertising documentation conform with the Data Protection Act.
and marketing
regulations.
* Third party health and safety risks assessments and
audits carried out. Staff conduct periodic health and
safety assessments.
* Employment and continuous training and development of
appropriately qualified staff.
----------------------- ------------------------ -------------------------------------------------------------------
END OF ANNOUNCEMENT
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUGUCACUPMUBC
(END) Dow Jones Newswires
April 04, 2017 05:56 ET (09:56 GMT)
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