Pure Gym muscles up with double digit growth
Pure Gym has seen double digit percentage growth in revenue after a major year of expansion.
The Leeds-based budget gym chain saw revenues for the year to 31 December 2018 rise to £228.4m, up from £198m the year before, a 15% uptick.
Earnings before interest, tax, depreciation and amortisation rose 14% to £73m.
The 10 year-old group has been investing heavily in new sites, with 50% more gyms opened in the period than the year before. As of 24 April there are 235 gyms nationwide.
The company is also continuing to innovate, with ‘small box’ gyms being tested and rolled out.
They have also brought in Olympian and the ‘world’s fastest woman’ Dina Asher-Smith along with Sir Chris Hoy to be an ambassador for the brand.
Humphrey Cobbold, chief executive of PureGym, said: “As PureGym celebrates its 10-year anniversary this year, we remain totally committed to our mission of making gym membership more accessible and to our vision of inspiring a healthier nation. I’d like to thank all of our colleagues whose incredibly hard work and commitment has made our achievements possible.
“In just 10 years we have grown from start up to established market leader with more members than any gym company has ever had in the UK and gyms in every major city in the UK, allowing over a million members to exercise in a flexible and affordable way across our 235+ gyms.
“We’re seeing great demand for new sites as people become increasingly aware of the importance of leading healthy lifestyles. 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.”
