UPDATE 2-Group 1's quarterly profit up nearly 60 percent

Newswire

(Adds share price, CFO's comment on guidance, paragraphs 9-10, edits) DETROIT, Feb 26 (Reuters) - Auto dealer Group 1 Automotive Inc. on Thursday said fourth-quarter earnings surged by nearly 60 percent due to strong year-end sales of new vehicles. Parts, service, finance and insurance revenue also bolstered the company's bottom line. The Houston-based conglomerate said net income rose to $19.6 million, or 84 cents per share, from $12.3 million, or 53 cents per share, in the same ...

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