Ritchie Bros. Reports Higher 2Q Profit On Strong Pricing for Used Equipment

This is up 11% from earnings of $26.8 million, Ritchie Bros. re­ported in the same period a year earlier that ended June 30. Ritchie Bros. sells industrial equipment, including trucks.

In the 2012 second quarter, Ritchie said gross auction revenue was $1.19 billion, up 4% from $1.15 billion.

Ritchie Bros. said it sold more than $669 million of equipment, trucks and other assets to online bidders during the first half of 2012, up 24% from the same period in 2011. A year ago, the company said it generated about $540 million from sales of equipment that included trucks.

Internet bidders continued to make up more than 50% of the total bidder registrations during the first half of 2012, the company said.