Virgin in fine shape for expansion
VIRGIN Active is flexing its financial muscle for expansion after staying in shape with a 13 per cent jump in underlying annual earnings to £124milion.
A personal training session at Virgin Active
The group, with 1.3 million members using 267 clubs including 101 in the UK, was recently taken over by South African investment firm Brait, with Virgin Group keeping a 20 per cent holding. It will follow up its first club opening in Thailand by extending its presence into Kenya and Botswana.
Chief executive Paul Woolf, who saw revenue rise 4 per cent to £638.6million, said: “I am confident 2015 will be another year of growth.
"With the backing of long-term supportive shareholders Brait and Virgin Group, continued investment in our brand, a solid pipeline of new clubs and a talented team, we are well-placed to achieve our goals.”