Continued growth for Fitness First

Fitness First has consolidated its position as Europe's biggest fitness club operator with strong trading results in the half year to 30 April.

There was a 47 per cent rise in profits before tax and goodwill to £11.7m and Mike Balfour, chief executive, said the group was profitable in 13 of the 14 countries in which it operates.

Start up operations in France suffered higher than expected losses of £900,000, but this failed to impact overall turnover, which was up 68 per cent to £101.8m. Balfour said the group's European operations were showing significant momentum.

Operating profits for German clubs increased by 26 per cent, while Spain, Italy and The Netherlands turned around last year's losses, reporting aggregate operating profits of £600,000.

Membership for the period increased and currently stands in excess of 632,000. Following the acquisitions of Just for Ladies and Curzons earlier this year, the group more than doubled the total number of clubs to 270. It expects to open a further 32 clubs by its 31 October year-end, taking the number open during the year to 80.

The £75m raised in March through a share issue should ensure the group is able to meet anticipated medium-term growth plans.

'With our continued success in club openings on an international scale we are well positioned to reach our target of openings,' said Balfour. Details: +44 (0)118 912 3500