May 3, 2012 / 11:25 AM / 6 years ago

Ritchie Bros profit rises on strong pricing

(Reuters) - Canada’s Ritchie Bros Auctioneers Inc (RBA.TO) (RBA.N) reported a 33 percent rise in first-quarter adjusted profit on strong pricing.

    Adjusted net income for the industrial auctioneer rose to $18.0 million, or 17 cents per share, from $13.6 million, or 13 cents per share.

    Auction revenue for the company, which sells trucks and other equipment used in the construction, agricultural and mining industries, rose 14 percent to $101.3 million

    Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Sriraj Kalluvila

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