UPDATE 1-Asbury Automotive 2nd-qtr profit rises

Newswire

DETROIT, July 27 (Reuters) - Car dealership group Asbury Automotive Group Inc. on Thursday posted an increase in quarterly profit as cost cuts helped offset the impact of higher interest rates. Second-quarter profit rose to $19 million, or 56 cents a share, from $16 million, or 49 cents a share, a year earlier. Income from continuing operations was 58 cents per share, the company said. Total revenue for the quarter rose 7 percent to $1.5 billion.Same-store retail revenue and gross ...

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