LONDON, 8 December 2009 ? BullionVault.com ? the world-leading online gold dealing & ownership service ? today reported a pre-tax profit of £3.4m ($5.6m) for the year ending October 31 2009, doubling its 2008 profit after a successful 12 months.
Turnover rose to £277m ($456.7m) in 2009 from £266m ($438.6m) in 2008. The number of active BullionVault users grew almost 79% to more than 15,500 and the volume of gold bullion they own increased by 62.5% to 18.3 tonnes.
The value of client gold property, which customers trade in open competition using BullionVault's live online gold market, rose 131% to £370.5m ($610.8m).
Speaking to the UK Reuters news agency, "Gold is coming back into the mainstream as a way of holding wealth," said BullionVault's head of research, Adrian Ash.
"That is a trend we will see continuing in 2010. Private investors are underinvested in gold, and there is a lot of scope (for further buying)."
You can read Reuters' full report here...
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