Britain's Royal Mint Ltd. in fiscal year 2015-2016 recorded the
highest sales revenue in its 1,100-year history, with demand for gold
and silver bullion coins leading the way.
“Significant growth in the precious metal trading activities of the
company’s Bullion division made a major contribution to this outcome,
with increased competitiveness in the U.S. silver market at the core
of the success,” a Royal Mint statement reads.
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Sales revenue reports by the Royal Mint indicate overall company
revenue increased by 39 percent, to £360.6 million for FY2015-2016.
That's up from £259.6 million for FY2014-2015.
The company also realized an overall operating profit of £13.1
million for FY2015-2016, up from £11.4 million for FY2014-2015.
About that bullion demand
Royal Mint revenue from bullion coin sales increased by 64 percent
in FY2015-2016, up to £185.6 million from £113.5 million in
FY2014-2015. The contribution to the operating profit increased 87
percent to £2.8 million for FY2015-2016. That figure stood at £1.5
million in FY2014-2015.
The Royal Mint's online precious metal trading website, which was
opened in 2014 and enables customers to buy, store and sell bullion
coins at constantly updated live prices directly from the Royal Mint
24 hours a day, 365 days a year, "proved attractive to small and
large investors, with nearly 20,000 accounts opened by the end of
March 2016," according to Royal Mint officials.
"New bullion products introduced during the year to complement
the organization’s flagship Sovereign and Britannia bullion coins
included Signature Gold, which enables investors to benefit from
economies of scale by buying fractions of large gold bars,"
according to the statement.