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Fitness Time posts $54.9m net profit

A file picture of a gym in Riyadh, Saudi Arabia
By TRENDS Desk
February 6, 2022 7:06 pm
  • This was buoyed by a growth in revenues of SR223 million, a SR9.75 million decrease in the cost of revenue, and a fall in other costs by SR32.3 million
  • The income from personal training was up SR20.5 million and rental income surged due to new rental contracts during the year.

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.

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