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GPI2003AR
Group 1 Automotive had another successful year in 2003. Revenues grew 7.2% to $4.5 billion despite challenging economic conditions. Net income grew 13.4% to $76.1 million and earnings per share grew 16.4% to a record $3.26. The company benefited from growth in higher-margin parts, service, and finance/insurance businesses. Acquisitions added $333 million in annual revenues. The company continues to seek acquisitions to diversify its brands, geographies, and revenue streams for stability in changing markets. Group 1 is well-positioned for continued growth with opportunities in the large automotive industry and a strong balance sheet.
