Pure Gym eyes further expansion as growing membership boosts revenues
Pure Gym has posted double-digit revenue growth for the full year as it eyes further expansion in 2019.
The figures
Revenue rose 15 per cent to £228.4m in the year to the end of December.
Group earnings before interest, tax, depreciation and amortisation jumped 14 per cent to £73.1m.
Member numbers were up 16 per cent over the year to just over 1m.
Why it’s interesting
The Leeds-headquartered gym chain will be patting itself on the back after posting strong figures for 2018 trading.
The firm broke through the 1m member mark last year, which it said is a record for gym membership in the UK.
Pure Gym continued to out-muscle competitors, posting double-digit revenue and earnings growth over the year, boosted by new investment in technology.
The company opened 30 new and converted gyms over the period, including four acquired as part of its takeover of the Soho Gym chain.
Pure Gym, which currently has 235 branches across the UK, said it is set for further expansion this year.
What Pure Gym said
Chief executive Humphrey Cobbold said: “As Pure Gym 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.
“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.”
He added: “Pure Gym has a strong property pipeline and is well placed in the current retail environment to benefit from the increasing number of vacant premises, with the increased footfall of a Pure Gym site providing benefits for both landlords and retailers.”