Newcap Revenues Jump 12%, Income Up 48% For Third Quarter 2011
November 4, 2011 at 3:59 AM (PT)
NEWFOUNDLAND CAPITAL CORP. LTD. -- NEWCAP -- reported third-quarter revenue rising 12% to C$31.9 million, attributed to organic (same-station) revenue growth. Profit jumped 48% to C$4.3 million. The broadcasting division saw a 12% revenue increase to C$30.6 million, led by the OTTAWA and SUDBURY clusters.
"Double-digit revenue growth continued into the third quarter. This has translated into significant increases in EBITDA", said Pres./CEO ROB STEELE. "Maximizing audience share combined with a great sales effort have been the drivers of these results and we expect positive performance to continue into the fourth quarter."