Newcap Q1 Revenue, Profits Rise
May 1, 2013 at 6:03 AM (PT)
NEWFOUNDLAND CAPITAL CORPORATION LIMITED -- NEWCAP -- saw first quarter revenue rise 6% to C$29.1 million, credited to organic (same-station) growth. EBITDA was up 9% to C$400,000, and profit grew from C$800,000 to C$2.1 million, credited to "fluctuations in the mark-to-market value of the Company's marketable securities."
"Our Broadcasting revenue has continued to show strong growth and continues to outpace the industry growth which was flat compared to the same time last year", said President and Chief Executive Officer ROB STEELE. "We have integrated the newly acquired SYDNEY, NOVA SCOTIA radio station with our existing station there and we are currently focusing on launching the new FM stations in MIRAMICHI and FREDERICTON, NEW BRUNSWICK."