AAA Auto Says First-Quarter Profit Jumps Fourfold as Sales Climb

AAA Auto Group NV (AAA), a Czech used-car dealership chain, said its first-quarter profit surged fourfold on higher sales of vehicles and increased revenue from financial services.

Net income for the three months ended March 31 was 2.9 million euros ($3.7 million), compared with 690,000 euros a year earlier, the Prague-based company said in an e-mailed statement today. Revenue rose 22 percent to 77 million euros.

To contact the reporter on this story: Lenka Ponikelska in Prague at lponikelska1@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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