Basic Fit at 7-mth highs as membership gains fuel Q3 strength

Basic-Fit

18/10/2024 09:10

** Basic Fit  BFIT.AS  rises about 5%, to 7-month highs,
after the Dutch fitness club chain reported Q3 marked by 13% y/y
membership growth and a 17% jump in quarterly revenue
    ** 9-month revenues reach 892 million euros ($966.84
million)
    ** KBC Securities and ING note better-than-expected
membership growth
    ** Basic Fit delivered strong results, with membership
growth in France improving from quality investments and the
back-to-school campaign boosting gains in October, ING says
    ** Next year's launch of Basic-Fit's franchise platform
could boost cash flow and help reduce debt, KBC says 
    ** Jefferies expects H2 profit improvement after lower H1
weighed on by costs of new openings and integrations
    ** Stock tracks its best day in almost 3 months if gains
hold



($1 = 0.9226 euros)

 (Reporting by Dagmarah Mackos)
 ((dagmarah.mackos@tr.com))