Gym firm pushes up profits to €1.6m

GYM operator Jackie Skelly Fitness saw pre-tax profits climb 20% in the year to November 2006.

Accounts filed for the company reveal profits of €1.6 million, aided by the opening of new gyms during the year.

Turnover for the year to November 30, 2006, rose to €12.1m from €7.6m. The company opened gyms in 2006 at locations in Greystones, Co Wicklow, and at Ballsbridge in Dublin.

The company said: “This impressive performance has been achieved alongside the ongoing investment in new clubs. Profits have ben retained in the business to ensure both new and existing clubs are maintained to the highest standards.”

Another gym has been opened in Drogheda, Co Louth, and more are planned for later this year.

“Rathfarnham and Newbridge have recently been announced as our ninth and 10th clubs respectively and both will begin construction in mid-2007,” the firm said.

The company was founded by Ms Skelly in 1992 with Mark Tooke. In the last five years it has raised €25m to fund its expansion plans from various investors.

The expansion of the business led to the creation of 27 jobs, according to the accounts.

Emoluments to the company’s five directors increased from €295,436 to €510,088.