West Wood Club, the chain of gyms, fitness clubs and swimming pools in Dublin, made a profit of almost €600,000 last year as Covid-19 restrictions were lifted in full.
The group’s surplus of €588,122 for the year ended December 31st, 2022, was up from just €95,624 for the previous 12 months, when most of the country was in lockdown for stretches as it moved to curb the spread of the pandemic.
West Wood has gyms in Leopardstown, Clontarf, Sandymount, Westmanstown and Aston Quay. It also offers classes in fitness, yoga and Pilates.
Its directors said they were “satisfied with the results of the company for the year which are in line with expectations”.
At the end of the financial year, the company had assets of €18.5 million on its books. This figure was up from €10.7 million the year before.
The company had liabilities of €16.5 million, which were up from €9.3 million. The net assets of the company increased by €588,152 over the year.
The group’s turnover came to €25.7 million, which was more than double the €12.3 million the year before.
The year also saw the company begin to hire again. Its average number of employees throughout the year was 472, up from 279 the year before. The company spent €8.3 million on staff costs, which was up from €2 million the year before.