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Springhealth turnover rockets and pre-tax losses fall
Springhealth Leisure, operator of 14 health and fitness clubs, has revealed a jump in interim turnover and a change in its board management. In the six months to 28 February 2001, turnover increased by 225 per cent to £5.2m, aided by the integration of 8 Springs health clubs acquired in October last year from Mazaran. Like-for-like sales rose by 9.5 per cent from January to March. Pre-tax losses dropped from £686,000 to £250,000. Richard Yerbury stepped down as chief executive and has been replaced by John Lowther, formerly head of operations at Granada. Lowther's first task is to head a strategic review of Springhealth's business and focus on organic growth. Chair Sandy Anderson commented that Lowther's appointment 'represents an important opportunity for the business to build on the progress already achieved'.