Pure Gym plans further expansion following double-digit growth
POSTED 25 Apr 2019 . BY Tom Walker
Expansion remains a key focus for the year ahead – Humphrey Cobbold
Budget operator Pure Gym achieved double-digit growth in revenue and profitability during 2018, cementing its position as the UK's largest gym chain.
Announcing its annual results for the year to 31 December 2018, the group reported revenues of £228.4m – an increase of 15 per cent on 2017 figures. Group earnings before interest, tax, depreciation and amortisation jumped 14 per cent during the year to £73.1m.
Alongside continued strong financial performance, PureGym set a new UK record for gym membership numbers and successfully integrated Soho Gyms following the acquisition of 10 fitness clubs in June 2018.
It now has more than one million members following a 9 per cent increase in memberships, driven by the addition of 30 clubs during 2018 – taking the number of clubs in its portfolio to 222.
Of the new sites, 26 were organic openings and four were Soho Gym conversions.
Humphrey Cobbold, Pure Gym CEO, said there will be continued expansion in 2019 – adding that of 24 April there were already 235 PureGym sites open.
"We’re seeing a great demand for new sites as people become increasingly aware of the importance of leading healthy lifestyles," Cobbold said.
"As well as continued innovation, expansion remains a key focus for the year ahead, and with our new formats, we can welcome more people than ever to our gyms.
"Since January we have already opened 13 new and converted gyms and we’re confident that 2019 will be a strong year for new site opening performances."
During the year, Pure Gym also tested its new ‘small box’ format successfully and now plans to roll it out nationwide.
Pure Gym looks to further growth, Theresa May opens community leisure facility, UK Sport
chair hints at bid for 2036 Olympics and the UK arts industry contributing £10.8bn to the
economy.
Pure Gym looks to further growth, Theresa May opens community leisure facility, UK
Sport
chair hints at bid for 2036 Olympics and the UK arts industry contributing £10.8bn to the
economy.
Planet Fitness has announced the repurchase of 314,000 shares at a rate of US$20
million. The
Class A common stocks were repurchased and retired, using cash.
Fast Fitness Japan, master franchisee of Anytime Fitness in Japan, has acquired Eighty-8
Health
& Fitness, giving the company master franchisee rights to Anytime Fitness in Germany.
In today's competitive fitness landscape, the key to success lies not only in providing
exceptional facilities but also in cultivating meaningful interactions with members. [more...]
Following a hugely successful event last year in Split, Croatia, W3Fit EMEA, is heading to
the Chia Laguna resort in Sardinia from 8-11 October.
[more...]
Pure Gym plans further expansion following double-digit growth
POSTED 25 Apr 2019 . BY Tom Walker
Expansion remains a key focus for the year ahead – Humphrey Cobbold
Budget operator Pure Gym achieved double-digit growth in revenue and profitability during 2018, cementing its position as the UK's largest gym chain.
Announcing its annual results for the year to 31 December 2018, the group reported revenues of £228.4m – an increase of 15 per cent on 2017 figures. Group earnings before interest, tax, depreciation and amortisation jumped 14 per cent during the year to £73.1m.
Alongside continued strong financial performance, PureGym set a new UK record for gym membership numbers and successfully integrated Soho Gyms following the acquisition of 10 fitness clubs in June 2018.
It now has more than one million members following a 9 per cent increase in memberships, driven by the addition of 30 clubs during 2018 – taking the number of clubs in its portfolio to 222.
Of the new sites, 26 were organic openings and four were Soho Gym conversions.
Humphrey Cobbold, Pure Gym CEO, said there will be continued expansion in 2019 – adding that of 24 April there were already 235 PureGym sites open.
"We’re seeing a great demand for new sites as people become increasingly aware of the importance of leading healthy lifestyles," Cobbold said.
"As well as continued innovation, expansion remains a key focus for the year ahead, and with our new formats, we can welcome more people than ever to our gyms.
"Since January we have already opened 13 new and converted gyms and we’re confident that 2019 will be a strong year for new site opening performances."
During the year, Pure Gym also tested its new ‘small box’ format successfully and now plans to roll it out nationwide.
Pure Gym looks to further growth, Theresa May opens community leisure facility, UK Sport
chair hints at bid for 2036 Olympics and the UK arts industry contributing £10.8bn to the
economy.
Pure Gym looks to further growth, Theresa May opens community leisure facility, UK
Sport
chair hints at bid for 2036 Olympics and the UK arts industry contributing £10.8bn to the
economy.
Planet Fitness has announced the repurchase of 314,000 shares at a rate of US$20
million. The
Class A common stocks were repurchased and retired, using cash.
Fast Fitness Japan, master franchisee of Anytime Fitness in Japan, has acquired Eighty-8
Health
& Fitness, giving the company master franchisee rights to Anytime Fitness in Germany.
Peloton Interactive Inc is believed to be working to get its costs under control in a bid to align
with the expectations of private equity investors as it considers de-listing.
Having good levels of cardiorespiratory fitness cuts disease and premature death by 11 to 17
per cent according to new research from the University of South Australia.
In today's competitive fitness landscape, the key to success lies not only in providing
exceptional facilities but also in cultivating meaningful interactions with members. [more...]
Following a hugely successful event last year in Split, Croatia, W3Fit EMEA, is heading to
the Chia Laguna resort in Sardinia from 8-11 October.
[more...]