Gym chain Bannatyne reports record turnover
Published: 14:00, 12 March 2018
Updated: 15:48, 12 March 2018
Gym and spa group Bannatyne has reported record turnover for last year after an investment programme across its health clubs.
The company, founded in 1996 by Dragons Den investor Duncan Bannatyne, delivered revenues of £117.6 million in 2017, up 5%.
The firm, which has centres in Ashford and Broadstairs, increased profits by 57% to £14.3 million as it acquired four new sites and opened nine spas costing £2.6 million.
The business, which operates 71 gyms, 46 spas and four hotels across the country, has refurbished 99% of its gyms in a £28 million modernisation programme over the last two years.
It has more than 210,000 members and employs about 3,000 people.
Chief executive Justin Musgrove said: Our aspirational proposition with investment in state of the art gyms, treatment spas, technological developments is robust, differentiated and sustainable providing indulgence with lifestyle balance that rewards the group with ever increasing membership and spa guest visits."
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Chris Price