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UK's Royal Mint lifted by market turmoil as demand for gold surges
By Daniel Thomas
Financial Times, London
Thursday, October 13, 2022
Market turmoil during the past year has boosted the performance of the Royal Mint as demand for gold coins and precious metals surged, pushing the profits of the UK's oldest surviving manufacturer to a record high.
The wholly state-owned company has supplied the country's coins since the reign of King Alfred the Great more than 1,100 years ago. But in its modern form it has expanded into sales of precious metals, historic coins, jewellery, and luxury collectibles.
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A record number of investors hedged their portfolios with physical precious metals such as gold and silver during the course of its latest financial year to the end of March, pushing the Mint's pre-tax profits to L18 millon, up from L 12.4 millon in the previous 12 months. Revenues rose from £ 1.1 billionn to £1.4 billion. ...
... For the remainder of the report:
https://www.ft.com/content/1591cafa-6ff1-4a53-99ae-778af37b6f43
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