NEWS
Bannatyne profits up 57 per cent as CEO Justin Musgrove predicts “further growth”
POSTED 12 Mar 2018 . BY Tom Walker
Health club operator Bannatyne Group has posted a 57 per cent increase in profits, thanks to a record turnover of £117.6m.

Announcing its results for the year up to 31 December 2017, the group reported overall profits of £14.3m.

It acquired four new sites during the year and spent £14m modernising its portfolio of 71 premium health clubs.

Following customer demand for a more holistic approach to wellness, Bannatyne also opened nine new spas during the year, taking the total number of spas in its portfolio to 46.

As a result, spa revenue reached £16.5m for the year – an increase of more than 13 per cent on the year before.

According to CEO Justin Musgrove, the group is operating in a marketplace “that has strong fundamental growth drivers” and said that there will be “significant further growth” during 2018.

“We are seeking to expand further through both organic growth – as our current reinvested estate potential is realised – and by careful acquisition,” Musgrove said.

“We are excited about prospects for 2018, a year which has started well with more than 19,000 new members, another record, signed up to date."

He added that during the year the company successfully absorbed a number of “cost headwinds”, such as the increases in national and living wage and the apprenticeship levy.

At the end of December 2017, Bannatyne employed more than 3,000 people, up 10 per cent on 2016 figures.
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
 
Leisure Management - Bannatyne profits up 57 per cent as CEO Justin Musgrove predicts “further growth”...
10 Dec 2018 Leisure Management: daily news and jobs
 
 
HOME
JOBS
NEWS
FEATURES
PRODUCTS
FREE DIGITAL SUBSCRIPTION
PRINT SUBSCRIPTION
ADVERTISE
CONTACT US
Sign up for FREE ezine
Latest news

12 Mar 2018

Bannatyne profits up 57 per cent as CEO Justin Musgrove predicts “further growth”
BY Tom Walker

Justin Musgrove, Bannatyne CEO, said the group expects

Justin Musgrove, Bannatyne CEO, said the group expects
photo: Bannatyne Group

Health club operator Bannatyne Group has posted a 57 per cent increase in profits, thanks to a record turnover of £117.6m.

Announcing its results for the year up to 31 December 2017, the group reported overall profits of £14.3m.

It acquired four new sites during the year and spent £14m modernising its portfolio of 71 premium health clubs.

Following customer demand for a more holistic approach to wellness, Bannatyne also opened nine new spas during the year, taking the total number of spas in its portfolio to 46.

As a result, spa revenue reached £16.5m for the year – an increase of more than 13 per cent on the year before.

According to CEO Justin Musgrove, the group is operating in a marketplace “that has strong fundamental growth drivers” and said that there will be “significant further growth” during 2018.

“We are seeking to expand further through both organic growth – as our current reinvested estate potential is realised – and by careful acquisition,” Musgrove said.

“We are excited about prospects for 2018, a year which has started well with more than 19,000 new members, another record, signed up to date."

He added that during the year the company successfully absorbed a number of “cost headwinds”, such as the increases in national and living wage and the apprenticeship levy.

At the end of December 2017, Bannatyne employed more than 3,000 people, up 10 per cent on 2016 figures.



Connect with
Leisure Management
Magazine:
View issue contents
Sign up:
Instant Alerts/zines

Print edition
 

News headlines
Melbourne’s Lyon Housemuseum close to finishing expansion
Melbourne’s Lyon Housemuseum close to finishing expansion   10 Dec 2018

The Lyon Housemuseum in Melbourne, Australia, is close to finishing construction on a major expansion that will see the opening of a number of new .... more>>
Breaking: Kevin Kelly and Rianna Riego ousted from Civana executive team
Breaking: Kevin Kelly and Rianna Riego ousted from Civana executive team   10 Dec 2018

With weeks to go before the opening of the new 22,000sq ft spa, Civana founders Kevin Kelly and Rianna Riego have been forced out of the resort’s .... more>>
British Museum to hold largest manga exhibition ever outside Japan
British Museum to hold largest manga exhibition ever outside Japan   10 Dec 2018

The British Museum in London is set to host the largest ever exhibition of the manga comics and graphic novels to be held outside of its native Japan. .... more>>
Youfit to begin offering genetic testing to members
Youfit to begin offering genetic testing to members   09 Dec 2018

US budget club operator Youfit Health Clubs will begin offering its members genetic testing through its YouCoach personal training programme. Youfit .... more>>
RIBA to bring out new book on 'wellbeing in interiors'
RIBA to bring out new book on 'wellbeing in interiors'   07 Dec 2018

The publishing wing of the Royal Institute of British Architects (RIBA) is gearing up to release Wellbeing in Interiors: Philosophy, design and .... more>>
Paris attractions closed this Saturday amid fears of renewed protester violence
Paris attractions closed this Saturday amid fears of renewed protester violence   07 Dec 2018

World-famous attractions including the Eiffel Tower and the Louvre are among museums and tourist sites in Paris that will be closed on Saturday (8 .... more>>
Company profile


Ridgeway Furniture Manufacturing Limited

Our commitment is to manufacture and install all products directly to clients, fully meeting and beating their expectations.

View full profile>>

Catalogue gallery


Featured Supplier

Core Health & Fitness launch better concept in rowing

Core Health & Fitness launch better concept in rowing

Core Health & Fitness has launched a brand new HIIT rower to take on the market leader. More>>




in this issue

• Nuffield: get wellbeing into schools
• Anytime's parent company buys Basecamp
• 'Wellness hotel' for £200m leisure hub



Latest jobs

Jobs Search



Recreation Assistant (Lifeguard)
Salary: Up to £21,284 per annum
Location: Tower Hamlets, UK
Company: GLL
Sales Prospector (Part-Time)
Salary: Competitive
Location: Hatfield, UK
Company: énergie fitness
Personal Trainers/Fitness Trainers
Salary: 100% of your PT earnings
Location: Handforth, UK
Company: The Gym Group
Diary dates
Powered by leisurediary.com




15 Jan 2019

Prospects 2019

Expedia HQ, London, United Kingdom



Leisure Management magazine 2018 issue 1
Leisure Management
2018 issue 1

View issue contents
View on turning pages
Download PDF
  Environment: Back to nature
British wildlife is being attacked on many fronts. Stephanie Hilborne, CEO of The Wildlife Trusts, wants to involve everyone in preserving nature More>>
  Tourism: Transforming Istria
In Istria, Croatia, tourism firm Maistra is changing the face of hospitality in the region, with a series of intriguing design-led hotels. As its most ambitious hotel project takes shape, Professor Terry Stevens finds out more More>>


Leisure Management magazine 2016 issue 1

Leisure Management
2016 issue 1

View issue contents
View turning pages
Download PDF
  Thermal Spa: Taking the waters
Magali Robathan met the key people behind the Gainsborough Bath Spa More>>
  Social good: Winds of change
Learn about the Change Foundation and the opportunities it creates More>>


Published by The Leisure Media Company Ltd Portmill House, Portmill Lane, Hitchin, Herts SG5 1DJ. Tel: +44 (0)1462 431385 | Contact us | About us | © Cybertrek Ltd