Newcap Revenues, Profit Rise In Third Quarter

Up Quarter

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.”

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