Q3 profits at Newcap bounce back to black

DARTMOUTH, NS – Despite a dip in revenue, Newfoundland Capital Corporation Limited saw its third quarter profits increase by more than $9 million. For the third quarter ending September 30, 2013, Newcap reported revenue of $32.7 million, $0.5 million or 2% lower than last year. But profit for the period of $8.7 million was $9.7 million higher than last year's loss of $1.1 million. The company said that year-to-date profit of $16.7 million was $13.2 million higher than the same period in 2012 because last year's results included a $7.5 million impairment charge. In addition, the year-to-date provision for income...