The Royal Mint has today reported another profitable and successful year, demonstrating the commitment to long-term sustainable growth.
An operating profit before exceptional items and interest of £8.2 million (2007-08: £9.6m) was realised in spite of the challenging global economic environment, meaning the Royal Mint will pay a dividend of £4.0 million (2007-08: £3.9m) into the public purse. Sales increased to £159 million, an increase of 17% compared to last year, and this strong demand reflects the high quality of Royal Mint products.
The Circulating Coin business delivered its third consecutive year of increased profitability and an 8.8% growth in turnover to £93.2 million (2007-08: £85.0 million), which represents an outstanding achievement given the international recession. Read the rest of this entry »
The Royal Mint has announced another year of financial success and improved profitability – a further year of improved performance.
An operating profit before exceptional items of £9. 6 million (2006-07: £8. 7m) has been delivered on sales of £131. 8 million, and profit after exceptional items and interest was £7. 2 million, compared with £1. 2 million for the previous year. This improved financial performance, which exceeds the Ministerial Target, means the Royal Mint will pay a dividend of £3. 9 million into the public purse.
These results reflect the Royal Mint’s position as the leading exporting mint in the world, with approximately 15% of the available global market, consolidating its status as a major supplier of steel-plated coinage products.
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Ottawa, Ontario, April 28, 2008 – In 2007, the Royal Canadian Mint recorded an unprecedented profit of $30.7 million, almost double the previous year’s figure. Throughout the year, it also leveraged its innovation advantage, strengthened strategic partnerships and positioned itself for future growth in the global marketplace.
“The past year was one of remarkable accomplishment for the Mint, and this success can be attributed to the dedication and commitment of each and every employee of the Corporation,” said Ian E. Bennett, President and CEO of the Royal Canadian Mint.
“As we move forward, we will invest in our infrastructure, our world-renowned technology and in our employees – all of which will ensure our path to continued success.”
Achievements for the Royal Canadian Mint in 2007 included:
