57144
56468
S&P/TSX
16331.03
+7.32
(0.04%)
S&P-CDNX
686.48
+8.47
(1.25%)
S&P-500
2857.05
+6.92
(0.24%)
NASDAQ
1221.95
+6.10
(0.50%)
Dow
25758.69
+89.37
(0.35%)
Dollar
0.76761
+0.00064
(+0.08367%)
Oil
65.59
+0.17
(+0.26%)
Gold
1202.20
+7.60
(+0.64%)
Silver
14.800
+0.130
(+0.89%)


Big growth at Ritchie Bros.

Ritchie Bros. Auctioneers Inc. says it had double-digit profit and revenue growth in the second quarter compared to last year.

The Vancouver-based auctioneer, which reports in U.S. dollars, says it had $45.7 million or 42 cents per share in adjusted net income attributable to shareholders in the quarter, compared to $36.4 million or 33 cents per share in the same quarter last year.

Revenue for the quarter ending June 30 came in at $308.5 million, up from $252.6 million for the same quarter last year.

The company says revenue was up in part because of the acquisition of equipment seller IronPlanet that it completed partway through the second quarter last year.

Ritchie says business was up as it improved both live and online auction performance and had a higher-value equipment mix in both segments, with record online sales in the U.S.

Performance was tempered by continuing equipment supply constraints, and the reduction of live industrial on-site auctions and sales days compared with last year's second quarter.



More Business News

53938
Data from CryptoCompare
Recent Trending
53367
Okanagan Oldies
57642
Castanet Proud Member of RTNDA Canada
Press Room
58979
56408