Pure Gym reports 24% rise in revenue during 'landmark' 2017

PureGym, the Leeds-headquartered gym operator, has reported a year of strong revenue growth and profit growth in its annual results for 2017.

During this period Pure Gym reported a 24% rise in revenue to £198m, and a 63% increase in EBITDA.

which was boosted by a £32m investment to create an nationwide network.

Over the year, membership grew by 13% to 927,000, while the number of sites grew by 12% to 192 across the UK.

PureGym remains over 50% larger than the number two operator in the market by number of sites.

PureGym’s growth has been built on a member proposition that does not seek to bind people into 12-month contractual obligations.

In November PureGym was acquired by Leonard Green & Partners, a private equity investment firm, who backed the management team’s plans for continued growth and development.

Humphrey Cobbold, chief executive of PureGym, said: “2017 was a landmark year for PureGym. We delivered on the full promise of the sites acquired or opened in 2015/2016; we continued to invest in technology that drives both better experiences for our members and delivers higher revenues and great profit growth to the business; and we managed a transition in ownership from CCMP to Leonard Green & Partners.

“Above all, however, we have benefitted from the truly extraordinary commitment of our colleagues in gyms and service centres across the country. These individuals - and the teams in which they work - stop at nothing to support our members’ efforts in the gym.

“They are the heartbeat of this business and I am particularly proud of how they have responded to the challenge to innovate and develop new ways of working.

“We believe firmly that the positive structural trends in our market will continue to intensify and we’re confident that we have the right processes, systems, and capabilities in place, to remain at the forefront of our industry in the years to come.”