Impressive growth at rapidly expanding PureGym

Budget gymnasium chain PureGym reported 2015 revenues of £125m on Friday - an improvement of 82% over 2014, in a year in which the group pushed ahead with serious expansion.

The privately-held company said group EBITDA was up 46% to £28m, with EBIT up 77% to £13.5m.

PureGym opened 48 new gyms in 2015 and saw 62% growth in its member numbers, which now stand at 670,000.

It also spend £5m on a rebranding, and purchased the British operations of US chain LA Fitness, which it is continuing to absorb into its main operations.

"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,” said chief executive Humphrey Cobbold.

"The acquisition of LA Fitness, the strengthening of our management team, the investment rebranding and launching new initiatives has put us on the front foot for another successful year ahead."

It has been widely speculated that PureGym will go public this year.

Fellow low-cost gym chain The Gym Group listed last year. PureGym and The Gym had considered a merger in 2014, but the proposal was dropped amid competition concerns.