Puregym has said it plans to keep expanding with new gyms, targeting between 60-70 new gyms this year across its global market.
It comes as the fitness operator said revenue increased 15 per cent to £549m in the 12 months to December 2023, helped by the opening of new sites.
Humphrey Cobbold, chief of Puregym Group, said: “Business conditions in 2023 were once again challenging with inflation rising, high interest rates and energy costs and political uncertainty affecting consumer sentiment and our business directly.
“Against this backdrop our results and progress are outstanding, demonstrating growth in all key financial metrics, substantial expansion, a highly significant refinancing and meaningful deleveraging.”
The business, which has more than 600 across the globe, already opened 40 sites in the UK this year.
Over the next three to four years the firm sees this rising to 200 sites in the UK and Switzerland.
“We are also, given the success of Puregym in Saudi Arabia and the UAE, seeking to develop new international franchise relationships to scale the Puregym concept in the US and other geographies too.”
The firm said it spent £42m on maintenance and refurbishment to ensure its “gyms remain at the high standards members expect”.
