Nuffield Health reaps rewards of expansion with 13 per cent earnings increase
by Jak Phillips | 26 Jun 2015
Close to £15m was invested in maintaining and developing Nuffield Health's 77 gyms
Nuffield Health has published its accounts for 2014, with a solid showing across the business helping earnings hit £81m – a 13 per cent increase on 2013.
The not-for-profit healthcare organisation also saw revenue increase 9 per cent to hit £711m in a year which saw significant expansion. Nuffield Health now boasts 31 hospitals, 77 gyms and more than 200 corporate facilities to help people “get healthy, and stay healthy.”
As well as major investment in its hospital division, close to £15m was invested in maintaining and developing gyms. Revenue from the health club arm exceeded £200m thanks to a 10 per cent (£19m) increase on 2013’s performance.
There were also a number of acquisitions as part of a long-term strategy to create a national network of health, fitness and wellbeing centres and increase its presence in key UK cities. Nuffield Health last year signed £330m of debt facilities as the charity bids to widen its footprint in the UK health club market and the past 12 months have seen the acquisition of nine Virgin Active sites and the recent purchase of two health clubs on the doorstep of the City of London.
“Although the markets have been challenging, the business has performed strongly with significant growth over the past twelve months,” said Nuffield Health Group CEO David Mobbs.
“Our finances remain solid and we have been able to sustain a substantial level of investment that has allowed us to improve and modernise our existing services, enter into new markets and develop digital and technology platforms.”
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Nuffield Health has published its accounts for 2014, with a solid showing across the business helping earnings hit £81m – a 13 per cent increase on 2013. The not-for-profit healthcare organisation also saw revenue increase 9 per cent to hit £711m in a year which saw significant expansion. Nuffield Health now boasts 31 hospitals, 77 gyms and more than 200 corporate facilities to help people “get healthy, and stay healthy.”
HAF,FIT,IND
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