UK's Royal Mint announces record profits as investors turn to gold amid market turmoil

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coins mint UK's Royal Mint announces record profits as investors turn to gold amid market turmoil

The Royal Mint saw record profits during its latest financial year, which ended on March 31, as investors diversified their portfolios with precious metals.

Sales also surged in the UK and Europe, with the consumer facing division seeing the strongest demand for historical coins and precious metal investment products. "The milestone result marks the end of a three year business transformation strategy led by Chief Executive Anne Jessopp. It has seen the UK's oldest manufacturer successfully evolve into a consumer brand, expanding into precious metals investment products, the sale of historic coins, jewellery and luxury collectibles," the Mint said.

The Royal Mint also has plans to open a new factory in 2023 that will focus on recovering precious metals from old mobile phones and laptops.

 

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