Improved results for TSI

New York-based Town Sports International (TSI) has increased revenue by more than $9m in its results for the quarter ended 30 September 2002.

The group, which owns and operates 128 health clubs in New York, Washington, Boston and Philadelphia, reported revenues of $81.8m, up 13 per cent on the same quarter in 2001. Net income increased from $1.6m to $2.1m and a further 16 sites were opened during the period.

'TSI continues to focus on being the top fitness provider in the four metropolitan regions we serve,' says CEO, Bob Giardina. 'We continue to be encouraged that we are able to post mature club revenue increases given the underlying economic climate and we will endeavour to strengthen our existing clusters of clubs.'

TSI was established in 1974 and has since grown to a total membership of more than 350,000 in the US and Switzerland. Details: www.nysc.com