National News

Q1 net profits up 2 per cent at Ritchie Bros.

By The Canadian Press

VANCOUVER - Ritchie Bros. Auctioneers Inc. (TSX:RBA) reports first-quarter net earnings of $14.3 million, up two per cent, helped by the effects of a favourable tax rate and foreign exchange gains.

That's 13 cents per diluted share, and compares with $14 million, or 13 cents per diluted share, in the same quarter of last year.

Revenues for the auctioneer of heavy equipment were down three per cent to $98.6 million, compared with $102.1 million year-over-year.

During the first quarter of 2014, Ritchie Bros. says it conducted 35 unreserved industrial auctions in 11 countries in North America, Europe, the Middle East and

Australia.

Gross auction proceeds were $855.4 million for the first quarter of 2014, a one per cent increase compared with the same quarter of 2013.

"We are generally pleased with our performance during the first quarter, despite the weather challenges our customers faced in certain markets," CEO Peter Blake said in a news release on Monday.

Ritchie Bros. has operations in more than 25 countries, including 44 auction sites worldwide.

We encourage an open exchange of ideas on this story's topic, but we ask you to follow our guidelines for respecting community standards. Personal attacks, inappropriate language, and off-topic comments may be removed, and comment privileges revoked, per our Terms of Use. Please see our FAQ if you have questions or concerns about using Facebook to comment.

You might like ...

Legal aid gets rare boost for family cases
 
UPDATE: Teen fighting for his life after car nearly sheared in half in Surrey crash
 
A cut above
Keeping music in the family
 
Alberni First rolls out slate of candidates for municipal election
 
Linking Parksville to French Creek and Coombs
CVRD fighting recent appeal-court victory by Paldi crematorium owners
 
US hospital sent Ebola-infected patient home
 
Captain Kilistoff ready to lead Rivermen

Community Events, October 2014

Add an Event

Read the latest eEdition

Browse the print edition page by page, including stories and ads.

Oct 1 edition online now. Browse the archives.