Budget fitness chain Pure Gym reveals sales growth

Joanna Bourke
Fit for expansion: Pure Gym is planning to open new London branches

The boss of Pure Gym on Thursday said he had no regrets about scrapping plans for a flotation last year, as he revealed a 28% sales surge at the budget fitness chain.

Humphrey Cobbold’s business had hoped to raise £190 million through an IPO, but axed the decision in October, blaming “market volatility”.

Cobbold said on Thursday: “I still think it was the right decision to pull the plug, and we are very focused on growing the business ourselves this year.”

He said there was no decision on whether they would revisit a listing.

Revenue increase to £159.9 million in 2016, from £125 million a year earlier. Underlying profit was up 41% to £39.5 million.

Pure Gym said it had made a good start to the current financial year and had more than 930,000 members at the end of last month.

It plans to boost its 174-strong gym empire with new London branches in Colindale, Limehouse and Ilford.