Pure Gym strengthens earnings and bulks up market position
Pure Gym's revenues were up 82 per cent to £125m in 12 months to the end of 2015 following a year of major expansion into central London.
Group EBITDA was up 46 per cent to £28m and EBIT was up 77 per cent to £13.5m.
The UK's biggest gym operator underwent a period of expansion in 2015, opening 48 new gyms and receiving a 62 per cent growth in its members, which now number 670,000.
The company spent £5m on rebranding and acquired LA Fitness to increase its presence in central London.
In June 2015, Sir Chris Hoy became the company's brand ambassador. The cycling Olympian also took an undisclosed stake in the business.
During the year, Pure Gym made various appointments to its management team including Dan Glyde as chief technology officer, Stephen Rowe as chief marketing officer, Eve Sukhnandan as HR director and Francine Davis as director of strategic and commercial development.
Chief executive Humphrey Cobbold said: "Pure Gym has had an exceptional year in which we have seen a significant increase in membership of all ages, reinforcing the demand for access to affordable, flexible and high-quality gyms across the country.
"The acquisition of LA Fitness, the strengthening of our management team, the investment rebranding and launching new initiatives has put us on the front foot for another successful year ahead."