Newcap Revenues, Profit Rise In Third Quarter
November 2, 2015 at 4:19 AM (PT)
NEWFOUNDLAND CAPITAL CORP. LTD. (NEWCAP) third quarter revenue rose 4% to C$41 million, attributed in part to revenue from its TORONTO and VANCOUVER stations. EBITDA was up 20% for the quarter to C$12 million, and profit jumped 57% to C$6.7 million, due to revenue increases and lower unrealized losses on marketable securities. Broadcasting revenue rose 4% to C$39.7 million, with EBITDA for the segment up 15% to C$13.6 milion.
“This was a great quarter for the Company, with strong organic growth, as we strive to maximize the return from our stations," said President/CEO ROB STEELE. “The Company’s success is supported by encouraging listener ratings along with continued efforts to increase revenues and operate the Company more efficiently.”