Trucking and logistics company Ryder System Inc reported a 62 percent percent rise in profit on stronger demand for commercial truck rentals and used vehicles and raised its profit forecast for the year.

Ryder reported net income of $38.8 million, or 74 cents per share, up from $24 million, or 43 cents per share, a year earlier.

Profit from continuing operations came to 76 cents per share, topping analysts' average forecast of 66 cents per share, according to Thomson Reuters I/B/E/S. (Reuters)