New stations drive “record year” at Newcap

DARTMOUTH – Newfoundland Capital Corporation continues to reap the rewards from its new radio stations in Toronto, Vancouver and Saint John, as 2015 profits climbed $12 million over last year.For the year ended December 31, 2015, profits topped $23.2 million, which the company said was primarily a result of the acquisition costs of $8.9 million and impairment charge of $5.7 million recorded in 2014. Also contributing was the inclusion of the Toronto and Vancouver stations for the full year in 2015 compared to nine months in 2014.Annual revenue grew 7% year-over-year to $164.6 million, due the inclusion of new radio stations including...