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Asbury Automotive profit up 10 pct on higher car sales

Tuesday, 22 Oct 2013 | 7:07 AM ET

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

Net income rose to $22.7 million or 73 cents per share, in the third quarter, from $20.7 million, or 66 cents per share, a year earlier.

Excluding items, Asbury earned 91 cents per share from continuing operations.

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

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