Cable & Telecom

Glentel sales up 51%

BURNABY – If you needed any further confirmation that the wireless industry is still growing at a rapid pace, retailer Glentel provided more with its annual results published this week.The retailer (which operates WirelessWave and The Telephone Booth) posted revenues of $146 million in 2005, an increase of 51% over 2004. Operating income before interest and taxes increased 35% to $8.9 million and consolidated net income for the year increased 48% to $6.1 million. Growth in sales and net income was the result of growing both organically and through acquisitions in 2005, said the company. In its retail division, sales...