The gym chain has reported another period of significant growth driven by ongoing format development and commercial and digital innovation. According to reports, a float could value Pure Gym at about £500m and could come as early as June. 25 Apr 2019. “These individuals – and the teams in which they work – stop at nothing to support our members’ efforts in the gym. Responsible for leading and Implementing Projects, People Development, Payment Structure, and Improvement Solutions Negotiations. LA Fitness outlets, which Pure Gyms bought in May 2015. “In just 10 years, we have grown from startup to established market leader with more members than any gym company has ever had in the UK and gyms in every major city in the UK, allowing over a million members to exercise in a flexible and affordable way.”. Bdaily is a PureGym opened 20 new gyms in 2017, taking the year-end total to 192, and it grew membership by 13 per cent to 927,000. Pure Gym has posted double-digit revenue growth for the full year as it eyes further expansion in 2019. No-frills chain made revenues of £125m in 2015 after snapping up rival and forming new partnerships, such as with Olympian Chris Hoy, Fri 15 Apr 2016 05.14 EDT The LA Fitness outlets, which Pure Gyms bought in May 2015 for about £70m, have given it a presence in London and the south-east. Revenue rose 15 per cent to £228.4m in the year to the end of December. Investment in technology and new site openings led to strong revenue growth and significant improvements in profits at PureGym. This disparity in generated revenue speaks to the importance of secondary spend within Equinox’s business model.
Revenue Manager PureGym. A Pure Gym spokesman said former LA Fitness members will have had their monthly membership fees more than halved from £40-45.
In January, the business refinanced its debt, successfully placing £360m of bonds in an offer that was heavily over-subscribed. Fees include access to up to 80 fitness classes a week, with many of the gyms open 24/7. The budget gym chain PureGym has swung into profit as its membership numbers rose above 1m for the first time.Britain’s biggest gym chain posted sales of £228.4m and pre-tax profits of £14.4m last Humphrey Cobbold, chief executive of PureGym, said: “2017 was a landmark year for PureGym. Meet the bodybuilding accountant who has created her own range of overnight oats. The firm is halfway through converting the 43 LA Fitness gyms, some of which have been sold, and expects to boast 170 gyms by the end of the year. Associate Consultant OC&C Strategy Consultants. Building contractor named for £21m Northumberland leisure development, Plans unveiled for new retail complex in North East development, Boost for Tees Valley SMEs and entrepreneurs with new startup initiative, Yorkshire freight firm acquired by pan-European group in £4.6m deal, "The worst is yet to come": ParcelHero predicts Christmas chaos for online retailers and couriers, "Major" bridge repair works set to start in South Tyneside, London property investment firm increases revenues 26 per cent as UK "rethinks office space", 5,500 jobs at risk as Cineworld confirms temporary closure of UK cinemas. © 2020 Bdaily Ltd. All rights reserved. Humphrey Cobbold, chief executive of PureGym, said: “As PureGym 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. However, the chain does not have swimming pools, saunas or cafes, which have high fixed costs. © 2020 Guardian News & Media Limited or its affiliated companies.
Aug 2019 – Present 1 year.
The company, which invested £7m on existing gym maintenance and refurbishment over the year, said its popularity has been built on a member proposition that does not bind people into 12-month contractual obligations. Jan 2017 – Aug 2019 2 years 8 months.
Aug 2014 – Present 5 years 11 months. Membership has grown to more than 780,000.
The Leeds-based gym operator said revenues grew 24 per cent to £198m in 2017, up from £159m the year before.
Mr Cobbold added: “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. The two firms ditched a planned merger two years ago amid competition concerns. This website and its associated newspaper are members of Independent Press Standards Organisation (IPSO).
It plans to invest in marketing, technology and innovation to both reinforce its offer and drive growth.
Bristol University Research Manager High Fliers Research Limited. In response to demand, the Group also opened four small box format gyms as trials, widening access to millions of potential customers in smaller local markets. PureGym was acquired by private equity firm Leonard Green & Partners in November 2017 and in January refinanced its debt, placing £360m of bonds in an offer that Cobbold described as "heavily over-subscribed". Pure Gym has also signed a three-year partnership with The Great Run Company, making it lead sponsor and provider of pop-up gyms at running events across the UK including the Great North Run, Great South Run and the Great Manchester Run. The gym chain has reported another period of significant growth driven by ongoing format development and commercial and digital innovation. Join us and make your mark.
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All rights reserved. The Leeds-based chain, Britain’s biggest gym operator with 150 outlets across the country, made revenues of £125m in 2015.
Looking forward, PureGym said the outlook remains ‘very positive’ with a strong pipeline of new sites. on “Above all, however, we have benefitted from the truly extraordinary commitment of our colleagues in gyms and service centres across the country.
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