Fitness apparel giant Gymshark’s revenues increased to $760.5 million in FY24 as against $696,5 million in FY23.

The Solihull-headquartered company’s adjusted EBITDA rose to $64.7 million despite rising costs as against $56.7 million in FY23. However, pre-tax profits decreased from $16.4 million to 14.9 million

Led by Ben Francis, CEO, the group traded successfully during FY24 as it revenues grew, profitability improved and it continued to satisfy customers". 

During the year, the company focused on reinvesting its profits back into the business instead of declaring a divided. It continued to face challenges due to the general macroeconomic environment which in general affected all apparel businesses and consumers alike. 

According to the company’s Board, the group’s inputs costs, including raw materials and labor costs continue to rise, although other costs, notably freight, have significantly normalised when compared with the prior two financial years.

The Board monitors these costs along with the changes in the macro environment, from a general perspective and with regard to conditions in key geographies.