News in Brief

Record Year for Royal Mint

The Royal Mint (TRM) has announced revenues of £1.4 billion for 2021/22, up by 27% over the previous year, and pre-tax profits of £18 million, up by 45% over the 2020/21 and the largest profit since it was vested as a limited company in 2010.

The results mark the end of a three year business transformation strategy that has seen the UK’s oldest manufacturer evolve into a consumer brand, expanding into precious metals investment products, the sale of historic coins, jewellery and luxury collectibles.

It is also committed to becoming a leader in sustainable precious metals, and in 2023 will open a multimillion pound plant to recover gold from UK electronic waste.

Over the last three years, TRM’s Precious Metals division has grown to account for almost half of total profitability, offsetting the decline of the circulating coin business.