Autosports (ASX:ASG), an automotive dealer company, sees its stock rise nearly 3% to A$2.46 after presenting strong 2023 results.

The company reported a yearly profit increase of 22.6%, reaching A$65.4 million.

Revenue from ordinary activities grew by 26.4%, reaching A$2.37 billion.

Autosports also expressed positivity regarding the upcoming year, stating that it is well-positioned for further expansion through well-priced acquisitions in 2024.

By the end of the last trading day, the company’s stock had increased by 17.73% this year.

Autosports Group is a company specializing in automotive dealing.