Group 1 profit falls amid slowing Ford sales

Newswire

DETROIT, Feb 21 (Reuters) - Car dealership chain Group 1 Automotive Inc. on Wednesday said fourth-quarter net income fell, hit by declining sales of Ford Motor Co. vehicles and a slowdown in the California market. The Houston-based company said earnings fell to $14.8 million, or 61 cents per share, from $16.2 million, or 66 cents per share, a year earlier. Excluding a charge for fixed asset write-off, the company earned 67 cents per share Analysts, on average, had expected 78 cents per ...

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