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


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 ...

Home is where her art is
Errington man battling BC Hydro
Local musician inducted into B.C. Country Hall of Fame
Coulsons upgrade their firefighting fleet
New rules coming for local election spending
[UPDATE] High-risk missing woman found
Police warn public of phone scam
Riders prep for track nationals with workouts at Colwood velodrome
Maja Tait voted in as new mayor of Sooke

Community Events, November 2014

Add an Event

Read the latest eEdition

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

Nov 20 edition online now. Browse the archives.