Asbury Automotive profit up 10 pct on higher car sales

Reuters

Oct 22 (Reuters) - U.S. auto dealer Asbury Automotive GroupInc posted a 10 percent rise in quarterly profit helpedby the continuing recovery in the automobile industry.

Net income rose to $22.7 million or 73 cents per share, inthe third quarter, from $20.7 million, or 66 cents per share, ayear earlier.

Excluding items, Asbury earned 91 cents per share fromcontinuing operations.

Asbury said new-vehicles sales were up 13 percent andused-vehicle sales rose 33 percent in the quarter.

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