UPDATE 1-Auto dealer Group 1 posts strong fourth quarter

Newswire

(Adds details throughout) DETROIT, Feb 26 (Reuters) - Auto dealer Group 1 Automotive Inc. said on Thursday that its fourth-quarter earnings surged by nearly 60 percent due to strong year-end sales of new vehicles. Parts, service, finance and insurance revenues also bolstered the company's bottom line. The Houston-based conglomerate said its net income rose to $19.6 million, or 84 cents per share, from $12.3 million, or 53 cents per share, in the same period a year ago. Revenues rose ...

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