Virgin Active reports 13% global revenue growth through 2017

Brait, the South African-based owner of Virgin Active Health Clubs, has reported that its revenues grew 13% in the financial year to the end of December 2017, to R10.5 billion (US$ 790 million).

In an updated first quarter 2018 trading update, Virgin highlighted “good membership growth in Q1 with closing membership up 1% year on year”.

According to Virgin, the group has added 40,000 new members globally since January, 40% more than in the same period last year.

The Virgin Active Group includes 233 clubs in eight countries including Australia, Singapore and Thailand with 1.2 million members worldwide.

Brait, which is majority owned by billionaire Christo Wiese, acquired 80% of Virgin Active from funds managed by subsidiaries of CVC Capital Partners at a cost of R13.4 billion (US$900 million) in 2015.

The family interests of Sir Richard Branson and former Virgin Active management holds the remaining 20% stake. 

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