Leejam Sports double-digit revenue growth exceeded target before center closures, says CEO

Leejam Sports Co.’s (Fitness Time) double digit revenue growth in Q1 2020 came ahead of target before the closure of its sports centers across the Kingdom since March 15, CEO Justin Musgrove told Argaam in an exclusive on Tuesday.

“Financial planning has become one of our top priorities since suspension of operations, as all available costs were reduced, written off or postponed. Meanwhile, Leejam has not cut any jobs to date, but no guarantees if the coronavirus crisis lasts for a longer time,” Musgrove said.

The gym operator is working closely with relevant authorities to identify the support mechanism with respect to reduction of government costs and financial support for Saudi citizens’ wages.

“Leejam will revise its expansion plan, which aims to open 15 new centers this year, in light of the current suspension of business due to the coronavirus outbreak,” Musgrove noted, adding the launch of some fitness centers will be delayed until 2021.