Interim results for ADDleisure show the partnership agreement announced with BUPA last June to be paying off handsomely. Turnover at the health and leisure services provider is up a staggering 122% to £1.3m and pre-tax losses reduced 53% to £421,000. BUPA’s 29.9 per cent stake in the group was combined with a £3.7m investment in its subsidiaries.

ADDleisure is composed of three companies: Fitbug, Movers & Shakers and Digital Plantation. The first two of these are 50/50 ventures with BUPA and have seen revenues soar 394% and 470% respectively, while the share in Digital Plantation is 49.8%, with revenues up 65%.

Fitbug and Movers & Shakers provide online fitness coaches as well as a chain of fitness centres. Digital Plantation, trading under the name Ez-Systems, is an estate management system for the leisure, entertainment, medical and retail environments to control bookings and databases, and provide customer relationship management.

Heavy marketing and refreshed management are claimed as key to recent successes, as well as the core BUPA relationship, which has ‘accelerated expansion’ into the fast-growing health and wellness market, according to Chairman Alan Fisher. The group’s cash position remains in shape with £3.9m in the bank, down slightly from the £4.3 in hand at the year-end in July 07 but up substantially on this time last year. The group’s valuation has matured well in light of recent expansion and after peaking last July at 8p and subsequently falling back, the shares are up slightly at 3.25p.

Growth Company Investor subscribers have full access to all our AIM and small-cap share recommendations. To subscribe today with a half-price offer, and gain immediate access to all the recommendations, click here.

ADDleisure	AIM	£4.99m	2.38p	0.00p
Click here for interactive charting
Other company articles:
ADDleisure			30/04/2008
AIM Market Watch			02/07/2007
Purple patch for Indigo			25/11/2005
ADDleisure			18/04/2005