Virgin Active, the fitness chain established by Sir Richard Branson, has significantly reduced its losses as it grapples with the ongoing trend of working from home.
The company, which operates 224 locations worldwide, reported a pre-tax loss of £78.1m for 2024, a substantial decrease from the £146.7m loss it incurred in 2023, as reported by .
Newly filed accounts at Companies House also reveal that its revenue rose from £511.4m to £576.3m during the same period.
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Adult membership at Virgin Active grew by five per cent to over one million, surpassing pre-pandemic levels.
The majority stake (67.6 per cent) in Virgin Active is held by private equity firm Brait, which is owned by South African billionaire Christo Wiese.
Sir Richard Branson's Virgin Group retains a 16.8 per cent share, while Titan Premier Investments holds a 7.9 per cent stake.
No London listing for Virgin Active
Virgin Active was launched in the late 1990s by Sir Richard Branson and Matthew Bucknall, who resigned as CEO in 2022.
The group's inaugural club was opened in Preston, Lancashire.
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In November 2024, there were reports that the billionaire majority owner of Virgin Active was considering listing the business in the 海角视频.
However, no such action has been taken since then.
Wiese invested in the brand in 2015 for £682m when plans for an IPO were scrapped.
A statement approved by the board read: "The market fundamentals for our business remain strong and we see a growing number of consumers understanding and embracing the importance of maintaining a healthy lifestyle, not only in fitness but in nutrition and broader wellness.
"While work-from-home trends continue to impact usage levels at city clubs, we are seeing a steady uplift in city club usage and residential demand remains strong.
"These trends lay a sound foundation for further global growth for the group."