Esporta on schedule to double portfolio

Health and fitness operator, Esporta, has reported convincing annual results and says that it is on schedule to achieve its target set at flotation in 1999 of doubling its club portfolio by 2002. In the year the chain acquired the Healthland sites in the UK and Europe (to 31 December 2000), pre-tax profits soared 77 per cent to £11m on turnover up 24 per cent to £79.3m. Membership also fared well, up 31 per cent to 147,000, aided by the opening of six clubs including the first Eden club at Chislehurst last August. Eden has already achieved 60 per cent of its third anniversary target after just eight months, and the second club is on schedule to open in Chigwell in September. Chair, John Grieves, says the club is well on its way to reaching its target of 46 clubs: Our strategic objective to double the estate will be comfortably achieved by the end of 2002. We have accelerated our rate of openings in the UK and now have our first club in Europe, a strong pipeline and are well on our way towards becoming one of the market leaders in Iberia. Esporta plans to add to its European presence triggered by the acquisition of Healthland site in Madrid by developing the Healthland contracts the group acquired for a further five Spanish sites, as well as one in Sweden and one in France. Grieves added that the developments bring 'exciting' opportunities for further European growth.