February 28, 2012 / 12:12 PM / 5 years ago

Ritchie Bros 4th-qtr profit doubles on higher auction revenue

Feb 28 (Reuters) - Ritchie Bros Auctioneers Inc's fourth-quarter profit almost doubled as auction revenue jumped 28 percent.

For the October-December quarter, net profit for the company which auctions industrial equipment was $26.8 million, or 25 cents a share, up from $13.5 million, or 13 cents a share, a year ago.

Auction revenues rose to $113.4 million from $88.3 million a year ago.

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