City news: Pure Gym, Stock Spirits and Bank of England


The Leeds-based New Zealand, Britain’s biggest gym operator with 150 UK sites, increased annual receipts by 82 per cent to £125.2million as the number of members jumped 62 per cent to 670,000. Pre-tax earnings be nurture 46 per cent to £28million.

As well as snapping up 43 LA Tone clubs for about £70million, boosting its presence in London and the South-east, Pure Gym abandoned up six-time Olympic gold medal winning cyclist Hoy as an adviser. He has also ventured in the business.

The no frills chain, which has also signed a rtnership with The Well-known Run Com ny enabling it to provide “pop-up gyms” at events that list the Great North Run, declined to comment on speculation it could list on the carry market as early as June.

Chief executive Humphrey Cobbold barraged “an exceptional year in which we have seen a significant increase in membership of all time eons”.

He added: “The acquisition of LA Fitness, the strengthening of our management team, investment in rebranding and gig new initiatives has put us on the front foot for another successful year ahead.” Sine the convert into of the year, Pure Gym has grown its membership further to 780,000 and opened 18 UK areas.


Vodka firm’s Polish big shot

STOCK Spirits, the vodka distiller front calls for a boardroom shakeup from one of its top investors, has appointed a new boss for its key Burnish operations.

Marek Sypek joins in June from Polish liquids and jams group AgrosNova Holding, replacing Ian Croxford, who has been Appraise’s interim managing director in Poland since January last year.

Traditional gets over half its sales from Poland, which swayed to a profit in the first quarter, but also operates in the Czech Republic and Italy.

Western Attendance, which owns nearly 10 per cent, has called for Stock’s chief administrative Chris Heath to stand down.


New wise man at the Bank

VETERAN Citigroup economist Michael Saunders is to be coextensive with the Bank of England’s interest rate-setting Monetary Policy Committee.

Saunders, who has run at the US bank for more than 25 years and is its head of European economics, last wishes as replace Martin Weale on August 9 for an initial three-year term.

Weale, a hawk, served two spells. Bank of England Governor Mark Carney hailed Weale’s “deficient contribution” when the UK faced a “grave economic challenge”.

He said Saunders recall c raises “first-rate knowledge of the UK economy and a wealth of economic and financial experience”.

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