Q1 revenues, profits fall at Newcap; adds three Kamloops stations

DARTMOUTH - Newcap Radio owner Newfoundland Capital Corporation said Wednesday that flagging advertising rates and Alberta’s ongoing economic uncertainty helped to weigh down first quarter revenues and profits.For the period ended March 31, 2017, revenues of $35.7 million were 3% lower than the same period last year, primarily due to revenue declines in the Alberta markets due to continued economic uncertainty in that region and declines in Ottawa due to downward pressure on advertising rates.Profit for the period plunged 35% to $3.0 million year-over-year due to lower revenue and a higher provision for income taxes. Earnings before interest, taxes, depreciation...