Glentel's profit up 48% in fourth quarter as more retail stores open

BURNABY – Glentel Inc. on Wednesday reported profits had increased 48% to $4.798 million in the fourth quarter ended December 31, 2007 compared to the same period a year earlier. Sales in the quarter increased to $68.9 million from $55.1 million in 2006, with the growth being propelled by a 28% increase in sales in the retail division and a 14% increase in sales in the business division. During the quarter, Glentel opened 22 new retail stores, marking a 33% growth in the number of stores operating at the end of the year compared to 2006. The company now has...