Bannatyne Fitness has revealed an £18m expansion programme that will add eight new clubs to its 32-strong site portfolio.

The group is hoping that the expansion will increase its membership from around 86,000 to over 100,000.

Some analysts have seen the announcement as a step towards stock market flotation – a move that the group also considered back in 2000.

Should Bannatyne list itself on the London Stock Exchange, it would join LA Fitness in an exclusive group of public-owned health club chains.

Duncan Bannatyne founded Bannatyne Fitness in 1996 and opened the company’s first purpose-built health club a year later.

Earlier this month, the company appointed Nigel Armstrong as operations director to aid the rapid expansion plans. Details: www.bannatyneleisure.com