Virgin Active has announced an impressive set of financial figures as it gears up for expansion amid its impending acquisition South African investment firm Brait.

Brait, agreed to buy an 80 per cent stake in the business for £682m in April and the transaction is expected to complete this summer, subject to approval by the South African and Namibian competition authorities. Having opened 11 new clubs in 2014, Virgin Active aims to make further strides in 2015 buoyed by its new investor, with a particular focus on growth in Asia and Africa.

In a trading statement released yesterday (22 June) for the year to 31 December, underlying earnings across the group grew by 13 per cent to £124m, with balanced growth across all territories.

In Europe, where Virgin Active has 146 clubs, including 101 in the UK, underlying earnings grew by 17 per cent. Revenues held firm against 2013’s figures despite the sale of 12 UK clubs, the bulk of which were sold to Nuffield Health.

“2014 saw a continuation of the growth that we have enjoyed since we opened our first club in 1999. All established territories contributed to this profit growth in a period where we have continued to invest in both clubs and product innovation,” said Virgin Active CEO Paul Woolf.

“As consumers the world over seek out ways to improve and maintain their health and wellness levels, I am confident that 2015 will be another year of growth for Virgin Active.”

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