Group 1 Automotive's quarterly profit dips


DETROIT, July 31 (Reuters) - Car dealership chain Group 1 Automotive Inc. said on Tuesday that second-quarter profit fell slightly, hurt by declines in new- and used-vehicle margins. The Houston-based company, the fourth-largest auto retailer in the United States, said earnings declined to $24.2 million, or $1.01 per share, from $24.9 million, or $1 per share, a year earlier. Excluding one-time items, the company earned $1.03 per share. Analysts, on average, had expected 98 cents, ...

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