Peel Hotels plc said its normalized net income for the fiscal first half ended Aug. 16 was 2 Great British pence per share, a decline of 10.4% from 2 pence per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was £310,890, a decline of 10.4% from £347,140 in the year-earlier period.

Total revenue climbed year over year to £9.0 million from £8.6 million, and total operating expenses rose on an annual basis to £8.1 million from £7.8 million.

Reported net income declined 6.7% on an annual basis to £392,340, or 3 pence per share, from £420,360, or 3 pence per share.