Source - SMW
Peel Hotels booked a large decline in first-half profit amid a slump in sales. 

Pre-tax profit fell 46.1% to £319,293, down from £592,807 a year earlier, after sales slid 5.1%.

"It is difficult to move forward from an earnings point of view without sales growth, however we continue to generate sufficient cash to continually decrease our net debt and to continue the reinvestment in our properties," chairman Robert Peel said.