Sats shares rise after 21%
Photo: Stian Lysberg Solum/NTB/TT

Sats shares rise after 21% jump in quarterly operating profit

Oslo-based gym chain Sats reports an operating profit of 260 million Norwegian kroner for the second quarter of the year. This is a profit increase of 21 percent compared with the corresponding quarter last year. The share is surging on the Oslo Stock Exchange.

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One hour after the stock market opened, the share price had risen 9 percent.

Revenue rose 3 percent to just over SEK 1.4 billion.

During the quarter, the gym chain's members completed 3 percent more workouts and 5 percent more group training sessions compared with the same period last year.

“The fall is an important training season and we are entering it with high activity at our gyms and a clear goal of giving members even more value from their membership,” CEO Sondre Gravir says in the report.

The number of members increased 1 percent year-on-year to approximately 744,000.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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