Vancouver-based information communications company Glacier Ventures International Corp. (TSX:GVC) has announced net earnings of more than $12.5 million in 2006, versus $5.3 million in 2005.
Vancouver-based information communications company Glacier Ventures International Corp. (TSX:GVC) has announced net earnings of more than $12.5 million in 2006, versus $5.3 million in 2005.
In its financial results for the year ending December 31, 2006, Glacier cited strong revenue $186 million in 2006 versus $63 million in 2005 from its operations and recent acquisitions as keys to the year-over-year earnings increase.
In 2006, Glacier acquired:
100% of Hollinger Canada operations ($179.9 million);
50% of Alta Newspaper Group ($29.6 million deal); and
25% of Continental Newspapers Ltd. ($16.2 million).
Glacier is the parent company of Business in Vancouver Media Group, which produces Business in Vancouver newspaper.
Glacier reported that its local daily and community newspapers in Western Canada had performed well in 2006 and that the company will continue to explore acquisition opportunities in 2007.
Glacier share price range during the past week: between $3 and $3.05; 52-week high: $3.50; 52-week low: $2.54.