Pure Gym's overseas clubs were back in profit within a month of reopening
Leisure Opportunities
Job search
Job Search
see all jobs
Latest job opportunities
Leigh Sports Village
£18,950 - £22,302
Leigh Sports Village, Wigan, UK
Actif Sport and Leisure
£19,312 Fixed Point (Pro-rata)
Carmarthen, Ammanford and Llanelli Leisure Centres, Carmarthenshire
Burnley FC in the Community
£25,000 to £30,000 per annum
Burnley, UK
star job
Xercise4Less
Competitive
Rugby, UK
Chesterton Sports Centre
£18,426 - £18,795 per annum, pro rata
Chesterton Community College and Sports Centre, Cambridge UK

Pure Gym's overseas clubs were back in profit within a month of reopening

Job opportunities
training opportunity
Les Mills
location: Nationwide, United Kingdom
more jobs
It has been extremely pleasing to see how rapidly our business units have returned to profitability – a clear benefit of our membership model

Pure Gym's overseas clubs returned to pre-COVID-19 profit levels in the first month of trading after reopening, according to the company's Q2 2020 financial results, which are out today.

The UK-based budget operator said performance and results had, as expected, been significantly impacted by the pandemic.

However, its gyms in Denmark and Switzerland returned to profit immediately, resulting in total Group EBITDA trajectory recovering and "heading back into the black”.

The Europe-wide closures saw Pure Gym's revenues in the three months to 30 June plummet by 87 per cent, from £112m in 2019 to just £14m.

However, Looking to the positives, Pure Gym said there had been "excellent liquidity and cashflow management" during lockdown, with £147m of liquidity remaining after 14 weeks of lockdown – an £18m reduction since 23 March.

The company credited the liquidity to its quick reactions to the lockdowns and the financial help offered by governments in the regions it operates in.

"Net operational burn has effectively been reduced to zero as a result of swift management action to reduce underlying operational cash burn and through government mitigation (furlough, rates and fixed costs)," Pure Gym said in the financial report.

Encouragingly, the company also has had no confirmed reports of transmissions at its gyms after around 7 million visits since the reopenings.

Humphrey Cobbold, CEO of Pure Gym, said the results – while hit by the pandemic – show how the operator has benefited from its geographical diversification.

"As expected, our trading performance was severely impacted in the last two weeks of the first quarter and throughout the second quarter," Cobbold said.

"However, it has been extremely pleasing to see how rapidly our business units have returned to profitability, with both Switzerland and Denmark returning to profit in the month of reopening – a clear benefit of our membership model."

Cobbold added that the medium to long-term strategic potential remains "robust".

Pure Gym expects to open a further 10 gyms by the end of 2020 – eight in the UK and two Fitness Worlds abroad.

In 2021, the plan is to have between 15 and 30 organic openings.

"We have the option to pull back new site capex to preserve liquidity if a second wave occurs – or to accelerate if outlook is positive," Cobbold added.

Pure Gym currently operates 500 gyms and has around 1.7 million members under the PureGym brand in the UK, Basefit in Switzerland and Fitness World in Denmark and Poland.

In May 2020, the company revealed it’s trialling a franchise offering to grow the brand globally.

• To access a full presentation of the Pure Gym results,

click here.

Sign up for FREE ezines & magazines
Pure Gym's overseas clubs returned to pre-COVID-19 profit levels in the first month of trading after reopening, according to the company's Q2 2020 financial results, which are out today.
HAF,FIT,IND,PTS
2020/THUMB346165_881209_249336.jpg

More News

1 - 15 of 43,092
18 Jan 2021
One of England's highest ranking police officers has called on government ministers to clearly define the maximum distance people are allowed to travel to undertake ... More
17 Jan 2021
Virtuagym, a leading provider of fitness technology for gyms and trainers, has announced the launch of PRO+, a new solution that enables operators to generate ... More
15 Jan 2021
Fitness First has launched a new free digital fitness hub, offering users a wide range of virtual classes and training sessions. Called FitX Player, the ... More
15 Jan 2021
The Gym Group has brought in Rio Ferdinand and Wais Shaifta as non-executive directors, signalling a broadening of its remit, new horizons and an intention ... More
14 Jan 2021
As the global vaccine rollout brings reopening closer and heralds the end of lockdowns, jostling is beginning for the resumption of live fitness industry events ... More
14 Jan 2021
Less than half (44.9 per cent) of children and young people in England met the recommended levels for exercise (60 minutes or more a day) ... More
TVS Sport Surfaces
TVS Sport Surfaces
13 Jan 2021
An England-wide survey of over 5,000 adults found that 80 per cent of people aged over 18 have made the decision to change their lifestyle ... More
12 Jan 2021
The government needs to provide the fitness and physical activity sector with a plan which will not only provide immediate, essential measures to secure its ... More
12 Jan 2021
Book4Time, a leading cloud-based business management solution for the global hospitality, spa and wellness industry, has received a significant growth investment from Serent Capital, a ... More
12 Jan 2021
Some Brits drop their exercise habits, eat unhealthily and drink more alcohol during lockdowns, according to research from the University of East Anglia (UEA). A ... More
12 Jan 2021
The Museum of Military Medicine in the UK has received planning approval for a new building in the city of Cardiff. As a result, the ... More
12 Jan 2021
ILMxLAB – a subsidiary of Lucasfilm – has launched a new virtual reality (VR)-based experience for visitor attractions. Based on the hugely popular Star Wars ... More
MyZone Group Ltd
MyZone Group Ltd
12 Jan 2021
Construction work has begun on the huge Shanghai International New Cultural and Creative esports Center. The 500,000sq m venue is estimated to cost around 5.8 ... More
11 Jan 2021
New year, new celeb workout as Mark ‘Bez’ Berry announces the launch of his own Joe Wicks-style youtube workout channel – Get Buzzin’ with Bez. ... More
08 Jan 2021
Frasers Group will open three new regional flagship Flannels-branded retail stores during 2021 – each of which will feature fitness studios. The Mike Ashley-owned retail ... More
1 - 15 of 43,092
Technogym
Technogym