Asbury Auto profit rises due to higher new and used car sales

Tue Feb 4, 2014 6:27am EST

Feb 4 (Reuters) - U.S. auto dealer Asbury Automotive Group Inc posted an 18 percent rise in quarterly profit due to higher sales of both new and used vehicles.

Net income rose to $26.9 million, or 87 cents per share, in the fourth quarter, from $22.8 million, or 73 cents per share, a year earlier. ()

Asbury earned 88 cents per share from continuing operations in the quarter ended Dec. 31.

The company said new-vehicles sales rose 10 percent and used-vehicle sales 24 percent in the quarter.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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