Australia’s fitness and health pacesetter Viva Leisure has posted a blockbuster financial performance for the first half of 2020.
First-half revenue of $23 million is up 52.7 per cent on the previous corresponding period, while net profit after tax (NPAT) hit $2.81 million, a 121.2 per cent increase on the previous year.
The Canberra-based rising star of the stock exchange’s small caps, Viva Leisure is in every state and territory across eastern Australia, with 70,886 members, an increase of more than 31 per cent on the same period in 2019, across 60 locations. These include 37 clubs in Canberra, where Viva launched in 2004 and grew rapidly with leading-edge technology and superior services.
Today, membership numbers are rising across NSW, Queensland and Victoria with respected brands Club Lime and hiit republic leading the way.
Managing director and chief executive officer Harry Konstantinou says 21 new locations are due to open soon and 12 locations are under negotiation for lease.
“Our pipeline never stops growing as we enter new markets and deploy our unique hub and spoke model into existing markets,” Mr Konstantinou says. “With our recent acquisitions, the opportunities for hiit republic locations have increased.”
He says another seven locations are being negotiated as Viva Leisure builds on its strong experience of acquiring and integrating new, strategic locations.
Replacing expensive traditional fitness outlets with affordable options with no joining fees or contracts, Viva Leisure’s expansion has maintained unbeatable momentum.
A new member can join online in three minutes through an intuitive self-serve portal with an app to manage membership and the benefit of real-time data available across the entire Viva Leisure network. Access to services is 24 hours a day, seven days a week.
On a mission to connect health and fitness with as many people as possible, Viva Leisure plans more affordable membership options to add to the proven performers Club Lime, hiit republic, Psycycle Life, Club Lime Aquatics and Swim School.
The ongoing success of hiit republic continues to be a key driver. The first hiit republic club opened in March last year, and now nine are operating with another 10 clubs expected to open in the near future.
On average, each hiit republic has 276 members.
In December, Viva Leisure completed its acquisition of Healthworks fitness centres, which boasted 12,000 members across 10 locations.
Healthworks created savings through synergies of around $200,000 per annum. Technology enables Viva Leisure to offer seamless access with member ID and watch ID technology. In line with Viva Leisure’s commitment to quality, new equipment is arriving at Healthworks locations this month, and fit-out upgrades are underway at two locations.
In February, Viva Leisure finalised its acquisition of 13 Fit n Fast clubs. The clubs, along with their 22,154 members are currently being integrated into Viva Leisure brands.
A health and fitness provider like no other in Australia, Viva Leisure remains on track to surpass 100,000 members across 82 locations. In an industry responding to Australians health awareness, Viva Leisure’s exceptional growth will continue on its core commitment to the community, to be affordable, accessible and awesome.
Original Article published by John Thistleton on The RiotACT.