Sunday, March 1st5.3°C
25327
24949

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

25320


Recent Trending




Today's Market
S&P TSX15234.34-6.82
S&P CDNX706.73+5.80
DJIA18132.70-81.72
Nasdaq4963.528-24.362
S&P 5002104.50-6.24
CDN Dollar0.7989-0.0006
Gold1203.00+6.10
Oil52.14+1.53
Lumber297.20+1.20
Natural Gas2.895-0.007

 
Okanagan Companies
Pacific Safety0.12+0.005
Knighthawk0.010.00
QHR Technologies Inc1.55-0.03
Cantex0.035-0.005
Anavex Life Sciences0.190.00
Metalex Ventures0.035-0.005
Russel Metals25.38+0.08
Copper Mountain Mining1.30+0.04
Colorado Resources0.15+0.015
ReliaBrand Inc0.008-0.0007
Sunrise Resources Ltd0.05+0.015
Mission Ready Services0.235+0.025

 



25320

FEATURED Property
1806259346 Lochview Road, Kelowna, BC
10083836 bedrooms
$2,300,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Creating your retirement vision

A vision means different things to different people. To the head of a large corporation, it’s the ability to chart a course that will deliver success (think Steve Jobs and Apple), to a shaman, i...


Are you asking the right questions?

Have you ever had this happen to you? You are in the middle of your second or third good discussion with a prospect and everything seems to be going great. The prospect seems engaged and happy to work...


It's OK to say 'I'm sorry'

Photo: ContributedStand-up comedians and sitcoms have been making fun of Canadians for being polite as long as I can remember. Being known for our niceness is certainly not a bad thing and I wish more...

_








Member of BC Press Council


25107