Newcap cites “economic challenges” in Alberta, Newfoundland markets for dip in Q1 revenue

DARTMOUTH - Newcap Radio owner Newfoundland Capital Corporation started its 2018 fiscal year with what it described as a “small shortfall”.For the period ended March 31, revenues of $35.67 million dipped less than 1% from $35.73 million year-over-year, primarily due to revenue declines in Newfoundland and Labrador and Alberta due to economic challenges in those markets, partially offset by the recent business acquisition in Kamloops, BC., Newcap said in a press release.Adjusted EBITDA of $7.0 million was 1% lower than the same period last year as a result of slightly lower revenue and slightly higher operating expenses.Profit for the period...