CityFitness posts 2016 profit while personal training earnings fall

New Zealand's Cityfitness Group, a unit of Canada’s #1 Nautilus Fitness & Racquets Centres Group, has reported a lift in net profit in the year to March 2016, turning around a loss in the previous year.

The company, which operates 26 gyms across New Zealand, said its net profit for the year was $557,000 versus a loss of $3.9 million in the prior year.

The increased profit was achieved against its revenues dipping to $30.9 million from $33 million in the prior year on a slide in personal training fees.

Operating expenses fell to $28.7 million from $34.7 million in the prior year and taxation expenses were lower at $230,000 versus $1.6 million.

While net profit was back in the black, the independent auditor’s report by BDO Wellington noted the company’s current liabilities exceed its current assets by $5.44 million, with current assets at $1.4 million. In the prior year, current liabilities exceeded current assets by $4.9 million. 

25th September 2015 - CITYFITNESS RECOGNISED FOR DELIVERING NEW ZEALAND’S MOST SATISFIED GYM CUSTOMERS

15th August 2014 - DEFIBRILLATORS INSTALLED IN ALL CITYFITNESS CLUBS 

1st February 2014 - CITYFITNESS’ ‘GET ACTIVE’ CHALLENGE EXCEEDS ITS GOAL

17th July 2012 - CITYFITNESS TO OPEN NEW AUCKLAND CLUB