Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Business
Classified Sites

The Canadian Press - ONLINE EDITION

Ritchie Bros. profits up 2 per cent to $14.3M in Q1, revenues down 3 per cent

A heavy equipment auction is pictured in Orlando in 2007. THE CANADIAN PRESS/HO, Ritchie Bros. Auctioneers Inv.

Enlarge Image

A heavy equipment auction is pictured in Orlando in 2007. THE CANADIAN PRESS/HO, Ritchie Bros. Auctioneers Inv.

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.

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

Comment
  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.

letters

Make text: Larger | Smaller

Brandon Sun Business Directory
Sudden Surge: Flood of 2014
Opportunity Magazine — The Bakken
Why Not Minot?
Welcome to Winnipeg

Social Media

Canadian Mortgage Rates