Wednesday, November 26th0.1°C
23286
23934

Ritchie Bros. share profit falls 16%

Ritchie Bros. Auctioneers Inc. (TSX:RBA) reports it had $22.1 million or 21 cents per share of profit in the fourth quarter, a 16 per cent decline from the year-earlier period.

The Vancouver-based company's revenue from auction services improved to $117.1 million

However, earnings from operations fell to $33.1 million from $38.8 million as overhead expenses increased. Other sources of income also fell year-to-year.

In the fourth quarter of 2011, revenue had been $113.4 million and net income was $26.8 million or 25 cents per share. The company says the profit would have been higher but for costs related to the acquisition of AssetNation.

For the full year ended Dec. 31, Ritchie Bros. reported $79.5 million of net income or $82.6 million of adjusted net income, equal to 74 cents or 77 cents per share respectively on a diluted basis.

The Canadian Press


Read more Business News

23872


Recent Trending




Today's Market
S&P TSX15014.23-59.42
S&P CDNX777.05-3.59
DJIA17801.62-13.32
Nasdaq4766.193+7.941
S&P 5002067.60+0.57
CDN Dollar0.8899+0.0015
Gold1197.70+0.60
Oil73.66-0.43
Lumber328.80-0.70
Natural Gas4.295+0.144

 
Okanagan Companies
Pacific Safety0.155-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.33+0.01
Cantex0.040.00
Anavex Life Sciences0.185+0.01
Metalex Ventures0.030.00
Russel Metals32.01-0.13
Copper Mountain Mining2.165+0.015
Colorado Resources0.130.00
ReliaBrand Inc0.0134-0.0001
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.32-0.005

 
23744


23457

FEATURED Property
20759744556 Gallaghers Edgewood Place
5 bedrooms 3 baths
$695,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


The last great Canadian tax shelter

A guide to how flow-through fund limited partnerships can mightily aid your tax planning!The end of the year will raise concerns among many professionals, self-employed persons, business owners and ev...


What I learned in China: Part 2

As per my previous article on my visit to China, we have much to learn about and from their people. It is potentially the largest market on earth with 1.3 billion people in one country but much will d...


Retirement: Health Issues

Our health is really our greatest asset and maintaining our health is of tremendous importance. You want to do what you can to ensure that health issues will not jeopardize the enjoyment of your retir...

_



24231

24158


Member of BC Press Council


24003