Pure Gym opens 24 new outlets as revenue increases by 50%

Pure Gym, the low cost gym operator, continues to undergo rapid expansion as it announces significant increase in both revenue and profitability in the annual results of 2014.

The gym chain, based out of Leeds, saw an increase of 49% in revenue to £68.6m, compared with £46m in 2013, while underlying profits also rose by 58% to £22.6m.

Furthermore, in terms of pre-tax profit, Pure Gym’s profits grew by 365% to £10m, rising from 2013’s £2.2m.

This strong financial performance has allowed the company to quickly expand with the opening of 24 new gyms taking the year-end total to 84, which has now established Pure Gym as the largest gym company in the UK with member numbers exceeding 500,000 for the first time in March.

Humphrey Cobbold, the chief executive of Pure Gym, who joined the company in January, said: “The time I’ve spent getting to know the company since joining in January has reaffirmed my view that this is a very high quality business with great people and tremendous opportunities.”

“We will not be satisfied simply with gym market leadership. As well as planning to open 30-40 new sites this year, we are exploring additional opportunities which fit with our brand and capability. It’s an exciting time as we look to drive a significant revolution in the market for access to fitness facilities, more active lifestyles and the well being of the British people.”

Peter Roberts, Pure Gym’s executive chairman, said: “In 2014 we delivered impressive financial performance whilst managing significant expansion. In just five years Pure Gym has established itself as the leading gym operator in the UK and made gym membership a reality for hundreds of thousands of people. We have further exciting expansion plans for 2015 and look forward to another year of growth.”

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