SENIOR staff at property development firm Terrace Hill Group have seen their remuneration fall, according to the company's annual report.

Executive chairman Robert Adair took home a £294,000 salary in the 12 months to September 30, 2012, but saw his pension contributions decline from £98,000 to £50,000.

Chief executive Philip Leech saw his overall package drop from £361,000 to £295,000 while finance director Jon Austen dipped from £295,000 to £247,000.

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The company made a £1.8 million pre-tax profit on £67m turnover.