But only relatively: Macau's casino operators still raked in $1.5 billion of combined EBITDA (earnings before interest, tax, depreciation and amortisation) in the first quarter of this year.
The price is around 30 times London City's earnings before interest, tax, depreciation and amortisation in 2015.
Wachovia stopped originating loans that allow negative amortisation in June, and is setting aside heftier reserves to cope with expected losses.
The group's pre-tax earnings before interest, depreciation and amortisation in the six months to September 28 fell to £257m from £511m a year ago.
However, much of this is due to a non-cash write-off relating to depreciation and amortisation in investments such as Now TV and advertising service Adsmart.
The group's pre-tax earnings before interest, depreciation and amortisation in the six months to September 28 fell to £257m from £511m a year ago, owing to power station shutdowns and lower electricity output.
Local material and labour costs were determined and a dynamic cost analysis was carried out to compare the technological options in terms of amortisation times and prime costs.
Archant, which owns titles including the Eastern Daily Press and Norwich Evening News, reported a 39.5% year-on-year fall in operating profits before amortisation and exceptional costs to £6.3m in 2012.
Shares of Inditex rose 4.4%, or 1.70 euros, to 40.33 euros ($59.22) in morning trading in Madrid after the company posted earnings before interest, tax, depreciation and amortisation (EBITDA) in the six months to July 31 of 799 million euros ($1.17 billion), beating the average market forecast of 780 million ($1.1 billion).
Adjusted profits – earnings before interest, tax, depreciation and amortisation – came in at £38.9m.
