Justin Musgrove

Chief executive Justin Musgrove

Bannatyne Group remains in good health

The national health club operator, which is headquartered in Darlington, reported record turnover and profits last year.

A successful investment programme across the entire health club estate over the past two years has delivered record results for the Bannatyne Group.

The premium chain of health clubs saw turnover hit £117.6m in 2017 whilst profits increased by 57% to a whopping £14.3m.

The group acquired four new sites last year, meaning it now boasts a 71-strong portfolio of gyms, 46 spas and four hotels spread across the country.

Bannatyne also spent £14m completing the modernisation of its estate during the year and £2.4m maintaining it.

Chief executive Justin Musgrove said: “We are delighted with the 2017 results – 57% increase in profits year-on-year after a 15% uplift in 2016 and very strong cash generation is clear demonstration that our strategy is delivering and that the investment over the past two years is driving strong returns.

“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.

“The Bannatyne Group is seeking expand further through both organic growth as our current reinvested estate potential is realised and by careful acquisition. We are excited about prospects for 2018 which has started well with over 19,000 new members, another record, signed up to date.”