Puregym: UK surge helps half-year sales reach milestone
A surge in its UK performance helped Puregym post sales of £300m for the first half of its financial year.
The Leeds-headquartered company achieved a 10 per cent increase in its total revenue for the six months to 30 June, 2024, according to newly-released figures.
Puregym’s UK revenue rose by 15 per cent to £205m in the period while its sales in Switzerland also increased by 13 per cent to £21m. However, its revenue in Denmark dipped by two per cent to £71m.
The company’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) also jumped by 22 per cent in the six months to £77m.
Its adjusted EBITDA in the UK rose by 20 per cent to £63, by 26 per cent to £13m in Denmark and more than doubled to £2m in Switzerland.
However, its loss for the period widened from £25.9m to £29.4m.
In the six months, the number of Puregym locations increased by from 582 to 616 while its members rose from 1.8m to 1.9m.
Puregym said that it had achieved a “solid and well controlled” first half of the year which “built on the momentum” at the end of 2023.
The half-year results come after Puregym outlined plans to open up to 70 locations in 2024 across its global market.
Earlier this month Puregym announced it is to appoint the chief executive of Punch Pubs & Co as its new boss.
Clive Chesser will succeed Humphrey Cobbold, who will become Puregym’s new chair. They are expected to take on their new roles on 6 November.