Q2 revenues up, profits down at Newcap

DARTMOUTH – Newfoundland Capital Corporation’s new stations in Toronto and Vancouver continue to pay off, as second quarter revenues continued to grow at the radio broadcaster.For the period ended June 30, 2015, revenues of $42.6 million were up 1% from $42.3 million year-over-year, while earnings before interest, taxes, depreciation and amortization (EBITDA) grew 3% from $12.2 million to $12.5 million. Organic EBITDA growth was 3% in the quarter.Profit for the period of $6.0 million was 20% lower than $7.5 million in the same period last year, because this quarter there was an increase in income tax expense due to changes in...