Gym chain says it can weather losses due to virus curbs – 台北時報

All gyms of the Fitness Factory (健身工廠) chain are to remain closed until Friday next week in accordance with disease prevention measures, Power Wind Health Industry Inc (柏文健康事業), the chain’s operator, said yesterday, citing a COVID-19 level 3 alert in Taipei and New Taipei City.
All other gyms it operates, including Body Workshop (纖養工房), S Klub (兒童體適能俱樂部), Crazy Jump (肖跳), Let’s Roll (滾吧) and Kill Zone (鐳射戰場) gyms, would also remain closed, it said
“The 14-day suspension of all gyms operated by Power Wind will affect revenue for this month,” it said in a regulatory filing, adding that the firm is in “a strong financial condition.”
Photo courtesy of Power Wind Health Industry Inc via CNA
As of March 31, the company’s cash and cash equivalents reserves had reached NT$1.28 billion (US$45.7 million), Power Wind said, adding that it added NT$347.71 million to the reserves in the first quarter.
Contract liabilities, such as pre-paid income of monthly fees and pre-paid income of personal training classes, have for a long time been well-controlled, it said.
“The temporary suspension has no significant influence on the company’s financial condition,” Power Wind said.
Revenue expanded 23.82 percent year-on-year to NT$323.84 million last month thanks to higher recreational sports service sales and athletic health service sales, it said.
Cumulative revenue in the first four months of this year grew 8.82 percent year-on-year to NT$1.24 billion, the filing showed.
However, net profit for the first quarter fell 19.85 percent to NT$90.69 million, from NT$113.15 million a year earlier, while earnings per share dropped to NT$1.28, from NT$1.6 last year, it showed.
Separately on Friday, fitness equipment maker Dyaco International Inc (岱宇國際) reported net profit of NT$268.19 million for the first quarter, compared with NT$3.29 million a year earlier, thanks to surging sales, better expense control and rising capacity utilization of its production bases in Taiwan and China.
Earnings per share were NT$2.1, up from losses per share of NT$0.01 during the same period last year, Dyaco said in a statement.
Gross margin reached 36.05 percent in the first quarter, while operating margin climbed to 8.76 percent, compared with 28.04 percent and minus-0.25 percent a year earlier, the firm said.
Cumulative sales in the first four months of this year climbed 103.35 percent year-on-year to NT$4.83 billion, thanks to a steady increase in sales of equipment of its Sole Fitness, Xterra Fitness and Spirit Fitness brands, as well as strong orders from the US, it said.
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