Newcap Revenues Up, Profit Off In Second Quarter
August 13, 2015 at 2:55 PM (PT)
NEWCAP second quarter 2015 revenue rose 1% year-to-year to C$42.6 million, primarily attributable to revenue from the TORONTO and VANCOUVER markets, which were acquired on MARCH 31st, 2014. The company's profit fell 20% to C$6 million due to an increase in income tax expense due to changes in future corporate income tax rates, and due to 2014 including gains in marketable securities.
"Financial results were positive in the second quarter with both revenue and EBITDA exceeding the prior year", said Pres./CEO ROB STEELE. "Recent listener ratings have been very encouraging in most markets. With these positive ratings, along with the continued efforts to increase revenue and reduce discretionary spending, the Company should achieve a successful second half of the year."
NEWCAP's board also declared a dividend of C$0.06 per share on each of the Company's Class A Subordinate Voting Shares and Class B Common Shares, payable SEPTEMBER 15th to shareholders of record as of AUGUST 31st