PureGym Surges Forward with 190,000 New Members in the Last Six Months
- PureGym reports a 17% year-on-year increase in turnover, reaching £272m for the first half of the year.
- The company has opened 29 new sites, mostly in the UK, during this period.
- With plans to expand to over 1,000 sites, PureGym’s membership base now stands at 1.86 million.
PureGym has achieved strong performance in the first half of the year, driven by an increase in membership as health-conscious individuals in the UK seek affordable fitness options.
The Leeds-based company, the largest gym chain in the UK, has reported a 17% year-on-year growth in turnover, reaching £272 million for the six-month period ending in June.
During this period, PureGym added 190,000 new members, bringing its total membership base across corporate-owned locations to 1.86 million.
Customers: Another 190,000 members were added by PureGym during the half-year period, taking the total membership base across its corporate-owned locations to 1.86m
PureGym has seen strong membership growth in its recently opened locations in the UK, surpassing expectations despite the current cost-of-living pressures.
Between January and June, the company launched 29 new sites, with the majority located in the UK. It also opened two sites in Switzerland and seven franchise locations in the Middle East, including its first outlet in the United Arab Emirates.
The expansion of locations and the increase in membership figures have contributed to a 43% rise in operating profits, reaching £40 million.
The company has also managed to control cost increases by implementing measures like limiting electricity use and hedging 90% of its energy bills.
Humphrey Cobbold, the CEO of PureGym, acknowledged the challenging business environment following the pandemic, with inflation and rising energy prices impacting costs and consumers’ disposable incomes. He emphasized the company’s ability to adapt and adjust to these challenges.
Cobbold further stated that the company has experienced strong trading since July, opening an additional seven corporate-owned outlets.
PureGym has seen a significant recovery in demand as lockdown restrictions eased in 2021, surpassing pre-pandemic customer volumes.
With plans to expand to over 1,000 clubs in the medium term, PureGym aims to become one of the largest fitness chains in the UK, with funding for this expansion coming from a £300 million investment by private equity group KKR.
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