Newcap Revenue Up 2% In Fourth Quarter
March 4, 2016 at 8:13 AM (PT)
NEWCAP fourth quarter revenue increased 2% to C$45.5 million, attributed to acquisitions in TORONTO, VANCOUVER, and SAINT JOHN. Profit rose C$5.4 million to C$8 million, mostly due to an impairment charge in 2014.
“2015 was a record year for our radio business,” said Pres./CEO ROB STEELE. “The Company’s success was attributable to the integration of the TORONTO and VANCOUVER operations as well as the reduction of operating costs and growth in organic revenue. Ratings results in late 2015 had many of our radio stations ranked within the top three in their respective markets, which should contribute to solid financial performance in 2016.”