According to the TimesOnline, Virgin Active has emerged from the recession “in good health.” The Virgin Group has announced underlying earnings of more than £100 million. Included with the number that is a first for the company will be an expansion of the Virgin Active brand. Currently, there are clubs in Britain, Italy, Spain, Portugal and South Africa. Revenues in 2009 were reportedly up 15 percent to £391 million.
Virgin Active opened eight new clubs during 2009 raising its coverage to 187 clubs and increasing its members to 919,000. Matthew Bucknall, the chief executive for Virgin Active told the TimesOnline, “We have a distinct advantage because we have a global brand that’s instantly recognizable. We continually run a slide rule over other opportunities. We’ve got the opportunity to become the first global health and fitness operation.”
Virgin Active is a major player in Britain with 71 clubs, Italy with 17 clubs and in South Africa with 91 clubs. Bucknall also said in the interview that the majority of expansion would be funded internally, but the company would be open to acquisitions to enter new markets, like America.
