Fitness Time, the operator of the largest Saudi gym chain, has reported a net profit of $54.9 million in 2021 with more Saudis going back to fitness centers as coronavirus curbs have been eased.
This was buoyed by a growth in revenues of SAR223 million, a SR9.75 million decrease in the cost of revenue, and a fall in other costs by SAR32.3 million, the company said in a statement.
As sporting activity resumed in the Kingdom, the fitness company saw its subscriptions and renewals recover from pandemic-hit 2020, generating SR193 million in income.
Further, income from personal training was up SAR20.5 million and rental income surged due to new rental contracts during the year.
