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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -1.00 | -0.92% | 107.40 | 107.40 | 108.80 | 108.00 | 107.20 | 108.00 | 16,322 | 08:45:44 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Physical Fitness Facilities | 204M | -8.4M | -0.0471 | -22.80 | 191.6M |
From Apr 2019 to Apr 2024
TIDMGYM
RNS Number : 9915L
The Gym Group plc
24 April 2018
24 April 2018
The Gym Group Plc
(the 'Company')
Annual Report and Accounts 2017 and Notice of 2018 Annual General Meeting
Following the announcement on 20 March 2018 of its full year results for the year ended 31 December 2017 (RNS: 2099I), the Company announces that it has posted its Annual Report and Accounts 2017.
The Company also announces that it will hold its Annual General Meeting at 11.00am on Monday 4 June 2018 at the offices of Allen & Overy LLP, One Bishops Square, London, E1 6AD.
Copies of the Annual Report and Accounts 2017 and the Notice of the 2018 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.morningstar.co.uk/uk/NSM.
Copies of those documents, together with a form of proxy for use in connection with the 2018 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 Guidance 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.
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 and 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; and
* succession planning.
------------------------ ------------------------- -----------------------------------------------------------------
Project implementation (New)
----------------------------------------------------------------------------------------------------------------------
As the business Failure to address The risk will
increases in scale, any of these risks be mitigated by
it has engaged could cause impact having appropriate
or is contemplating from minor inconvenience project governance
a number of to major business procedures in
wide-ranging interruption. place, to include:
and significant * project sponsor;
projects. Risk
inherent in such
projects relate * project steering group;
to integration,
culture and execution.
* project plan;
* appropriate level of due diligence; an
* integration plan.
------------------------ ------------------------- -----------------------------------------------------------------
Information technology dependency
----------------------------------------------------------------------------------------------------------------------
Our ability to Disruption in
enrol members, critical IT systems * Our primary data systems are hosted by fully
carry out online could have a negative qualified organisations in suitable data centres.
marketing activity, impact on our
process payments reputation and
and control gym our ability to * Our primary IT infrastructure is fully managed by
access is dependent collect revenue. specialist IT companies who provide best-practice
on the performance architecture and support.
of our IT systems.
* 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 and systems are protected by
and confidential of this information firewalls, security software and secure passwords.
information may lead to legal
electronically. claims, regulatory
A breach of security penalties, disruption * A full GDPR compliance programme is being delivered
or data protection of operations with support from external legal and cyber security
rules is a key and reputational specialists.
risk. damage.
* All sensitive data is captured and presented using
SSL encryption. Our transactional website is scanne
d
quarterly to ensure PCI compliance.
* Access to central member data systems requires
2-Factor authentication.
* All customer payment data is stored externally on
systems that are PCI-DSS and/or BACS certified.
------------------------ ------------------------- -----------------------------------------------------------------
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 re-forecasting 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, Employment * Expert opinion sought where relevant.
law, Health and
Safety requirements,
planning regulations, * Legal advice taken to ensure systems, processes and
noise abatement documentation conform with the Data Protection Act.
and advertising
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
MSCPGUBACUPRGAC
(END) Dow Jones Newswires
April 24, 2018 12:02 ET (16:02 GMT)
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