Newly launched stores helps Glentel's Q1 sales soar, but profits remain flat

BURNABY, B.C. – Strong sales at its existing and more recently acquired retail operations in Canada, the U.S. and Australia fuelled a 106% increase in first quarter sales for wireless retailer company Glentel Inc. compared to the same period last year. Glentel (which runs Wireless Wave, Tbooth and other retail brands) reported first quarter consolidated sales of $305.7 million, compared to $148.3 million in Q12012. EBITDA also rose to $14 million compared to $7.2 million in the same period a year earlier. Net profit, however, stayed the same as Q12012, at $3.3 million or $0.15 per share. The first quarter...