Dunne's gyms in strong shape
Published 02/05/2015 | 02:30
The gym business operated by businessman Ben Dunne generated operating profits of €1.5m last year.
In an interview, Mr Dunne said yesterday that his gym business enjoyed its two best months of growth in the past five years during March and April.
Mr Dunne said that the membership growth rates for the two months were up 20pc on the same period last year.
He said for the coming year, he is projecting growth rates of 15pc based on the March/April performance after a 'flat' 2014.
He said that the revenues at the 10-strong network of gyms last year topped €10m with operating profits of €1.5m after depreciation and interest are taken into account.
The business comprises of seven gyms in Dublin and three in the UK.
The business has 52,000 members and Mr Dunne said that the Irish gyms recorded 2.2m visits in 2014.
Mr Dunne confirmed that he has ploughed €16m of his own money into the business. He said: "I am optimistic for the year ahead based on the March and April performance."
The network of gyms employs 60 full-time staff.