Author Topic: Royal Mint annual report 2018-2019  (Read 443 times)

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Offline eurocoin

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Royal Mint annual report 2018-2019
« on: August 08, 2019, 02:10:04 PM »
The Royal Mint's latest annual report has been released. It can be seen here.

Results are bad again. During the financial year a three-year plan was launched to reinvent the business. The Royal Mint's gifting and custom jewellery divisions are examples of this. 2019-20 will be a challenging year as there are no relevant royal events.

The Currency business continues to face challenges as economies increasingly embrace cashless alternatives. The competition for overseas contracts has continued to be intense as more mints experience low domestic demand. This has continued to result in considerable price pressure as competitors strive to fill their order books. As a result, we have plans to position ourselves in the most appropriate way for the current market and ensure we are able to compete for overseas contracts while always protecting our ability to meet UK coin demand.

During the year overseas supply of coin continued to be a key part of the business and we won new attractive contracts which were not initially anticipated. As the year closed we were in the advanced stages of negotiating a new and significant high-value coin for an overseas central bank that will include The Royal Mint’s award-winning High Security Feature.

Online Figleaf

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Re: Royal Mint annual report 2018-2019
« Reply #1 on: August 09, 2019, 07:40:57 AM »
I suspect that when the Conservative party at last discovers that it can save money by outsourcing coinage of circulation coins to South Korea, they are willing to let the Mint continue as a private jewellery shop with Pobjoy aspects - as long as they can claim to have honoured a "centuries old tradition". Labour is more likely to keep the Mint and subsidise it if necessary, not for the tradition but in order to support Welsh jobs.

An unidentified coin is a piece of metal. An identified coin is a piece of history.

Offline Big_M

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Re: Royal Mint annual report 2018-2019
« Reply #2 on: September 11, 2019, 09:37:30 PM »
Individual annual report 2018-2019 of the Royal Mint (not the trading fund) now available :