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De Vere could still sell Greens
01/12/2005
De Vere, the listed UK leisure group, could still look to dispose of its health and fitness subsidiary Greens. Although an immediate sale has been ruled out.During the last financial year, which ended 25 September, Greens generated a turnover of £32.5m, a 4.1% increase compared with year-earlier figures. Operating profit rose 14.4% to £4m, up from the £3.5m recorded in 2004. At the year end, the number of people that were members of Greens' health and fitness clubs rose to 68,900 from 68,400. Recent newspaper articles had suggested that De Vere was being eyed by two buyout groups, with UK-based Permira named as one.
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