Newcap Revenue, Profit Up For Third Quarter

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NEWCAP (NEWFOUNDLAND CAPITAL CORP. LTD.) third-quarter 2016 revenue rose 1% year to year to C$41.5 million, with the growth credited to revenue increases in the TORONTO market.  EBITDA increased 10% to C$13.1 million, credited to a non-recurring recovery of previously expensed copyright tariffs, partially offset by restructuring costs; without the adjustments, EBITDA grew 3%. Profit also rose 16% to C$1.1 million.

"This year has been very rewarding for our shareholders. Both revenue and EBITDA have improved over last year and that contributed to our decision to increase annual dividends" said President and Chief Executive Officer ROB STEELE. "Our national footprint combined with a focus on improving operational efficiencies should enable the Company to experience continued success in the future."

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