×

UPDATE 1-Altus Group falls to loss in Q1

* Q1 loss C$0.1 mln vs profit C$0.1 mln yr ago * Units of co down 4 pct May 10 (Reuters) - Real estate consulting firm Altus Group Income Fund posted a quarterly loss on higher costs, sending its units down 4 percent. For the first quarter ended March 31, the fund reported net loss of C$0.1 million, or breakeven per unit, compared with net earnings of C$0.1 million, or breakeven per unit, last year. Quarterly revenue, however, rose 20 percent to C$60.8 million ($58.35 million), driven by acquisitions made in 2009. Salaries and benefits increased 28 percent to C$36 million due to additional headcount from acquisitions. Units of Altus Group were down 55 Canadian cents at C$13.13 Monday on the Toronto Stock Exchange. ($1=1.042 Canadian dollar) (Reporting by R. Manikandan in Bangalore; Editing by Aradhana Aravindan) Keywords: ALTUSGROUP/ (r.manikandan@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: r.manikandan.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.