NEW YORK -- Asbury Automotive Group Inc. reported Friday, Feb. 24, that profits for the quarter ended Dec. 31 jumped to $20.5 million, from $12.8 million in the same period last year. Asbury credited the increase to a reorganization that involved the sale of some stores, along with "solid performances" of dealerships' used-vehicle sales and fixed operations.
Asbury, the nation's sixth-largest dealership group, said revenue for the quarter rose to $1.35 billion, from $1.31 billion in the year-ago quarter. Profits for the same period rose to $61.1 million, from $50.1 million.
For 2005, Asbury sales rose to $5.54 billion, from $4.97 billion in 2004.