25 Apr 2019
Pure Gym plans further expansion following double-digit growth
BY Tom Walker
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.
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