Newcap Q4 revenues up 2%, but profit falls $5.6 million

DARTMOUTH, NS - Growth at both its existing and newly acquired B.C. radio stations drove revenues up by 2% at Newfoundland Capital Corporation (Newcap) to $35.5 million in the fourth quarter. Year-to-date revenue of $130.9 million was $4.3 million, or 3% higher than 2011. But profit for the quarter fell $5.6 million to $7.4 million compared to the same quarter last year. The radio broadcaster also reported it’s still seeking a buyer for its Western Canadian broadcasting assets. "While revenue growth has slowed compared to the high growth achieved in recent years, the company still maintained positive revenue growth of 3%...