UPDATE 1-Penske surges to 4-yr high on profit gain


* Q1 net income up 66 pct, EPS top Wall Street view * Penske shares hit highest level since 2007 * Penske sees margin gain amid Japan supply disruption DETROIT, April 28 (Reuters) - Penske Automotive Group shares surged to a four-year high on Thursday after the auto dealership group posted better-than-expected first-quarter results and said it expected the disruption from the shortfall in output by Japanese automakers would be limited. Penske, the No. 2 U.S. auto dealership group, ...

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