18/04/2005
Leisure, health and fitness investment vehicle ADDleisure produced its maiden results for the interim period to January. The company joined AIM last October but active trading began at a later stage. As a result, turnover reached £98,000 and a gross profit of £35,000 was achieved but this was eaten up by administrative, product development and launch costs, creating a £506,000 pre-tax loss. ADDleisure has so far invested in three products. Powerplate, which uses vibration technology to stimulate muscular and circulatory responses while exercising, opened a showroom in London and is selling in Harrods. In addition, it has orders from a UK health & fitness chain. Fitbug, an online health and wellbeing coach, launched in January and is targeting sales from corporate wealth and wellbeing private healthcare providers as well as the health & fitness industry. According to chairman Allan Fisher, who, with chief executive David Turner, is a veteran of the fitness sector (the former a CEO of Holmes Place and the latter a founder of LA Fitness), the company was approached by potential strategic partners regarding Fitbug and is now considering whether to raise capital to enjoy greater market reach. ADDleisure is also acquiring 50% of Digital Plantation, the Ez-book booking system developer for the health and leisure market that was established by ADDleisure director David Cummin, who formerly founded Membertrack, the leading club membership software provider. While sales are yet to take off, the connections of the company's directors should make it a decent growth prospect. Add.
| Market cap: | £3.25m |
| PE Forecast: | n/a |
| Share price: | 3.25p |
| AIM | £4.72m |
2.25p
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-0.12p
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| Other company articles: |
| 30/04/2008 |
| 02/07/2007 |
| 25/11/2005 |
| 18/04/2005 |
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