Revenue up but so are Puregym's losses

PUREGYM, the Leeds-based budget fitness chain, has reported a pre-tax loss of £88.5 million for its latest financial year, an increase from the previous year’s loss of £77.6m.

- BY JON ROBINSON

In 2024, the company expanded its workforce from 6,785 to 7,579 and opened 102 new locations.

The figures, recently submitted to Companies House, follow PureGym’s announcement in April that it had boosted its turnover to nearly £605m in 2024.

The firm also reported that its EBITDA (earnings before interest, taxes, depreciation and amortisation) had grown by 10.5%to £256m.

PureGym attributed its increased net loss to rising debt levels, incurred as a result of acquiring Blink Fitness.

Finance costs rose to £183.7m in 2024, up from £173.2m, and debt increased from £665.8m in 2023 to £784.7m.

Founded in 2009 by Peter Roberts, PureGym operates gyms in the USA, Denmark and Switzerland as well as across the UK.