Neil Gillis, the 40-year-old chief executive of Esporta, yesterday gave the first evidence of a turnaround at the health club operator since he took the helm in 2003. Earnings in 2004 rose 6 per cent to £36.9 million, while sales rose 7.3 per cent, or 3.5 per cent on a like-for-like basis, to £168.3 million.
The announcement sparked speculation that Esporta’s private equity backer, Duke Street Capital, might be seeking an exit, although Mr Gillis said he still had much to do. He expects to sell about half of its 40 mid-market clubs as the group turns its focus to larger premium-priced clubs with racket facilities. He is also poised to return to the expansion trail with a £100 million war chest.
Mr Gillis, who read PPE at Oxford, has spent most of his career in food and drink, having run Linda McCartney Foods and Greene King’s managed pubs division. He and his wife spend their spare time tending their vineyard at their home in Suffolk and selling the wine.