May 10, 2010 / 4:27 PM / 7 years ago

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 AIF_u.TO 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)

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