PURE Gym has delivered “strong” full year results after securing a partnership with Olympic hero Sir Chris Hoy.
In the year ended December 31 2015, Pure Gym opened 48 new gyms, including 11 LA Fitness conversions, taking the year-end total to 132.
It also posted a 62 per cent growth in members to 670,000 at year end and revenues rose by 82 per cent to £125m. Group EBITDA rose by 46 per cent to £28m.
Leeds-based Pure Gym said it had strengthened its senior management team and invested £5m in rebranding its visual identity. The acquisition of LA Fitness business increased its presence in Central London and South East.
Humphrey Cobbold, chief executive, said: “Pure Gym has had an exceptional year in which we have seen a significant increase in membership of all ages, reinforcing the demand for access to affordable, flexible and high-quality gyms across the country. The acquisition of LA Fitness, the strengthening of our management team, the investment in rebranding and launching new initiatives has put us on the front foot for another sucesful year ahead.”
He added: “Our strong financial results are built on the drive, commitment and hard work of an extraordinary team of colleagues who I am extremely proud to lead. We have added leadership capacity and new skills right across the organisation and we have done so without compromising the values and entrepreneurial character that have been the foundation of Pure Gym’s rise from start-up to market leader in just six years.”
Pure Gym also signed a three-year partnership with The Great Run Company, the UK’s biggest mass participation running series, which will see Pure Gym as a 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. In June 2015, Pure Gym entered into partnership with Sir Chris Hoy, Britain’s greatest ever Olympian, who also became an investor in the business.