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Terrace staff see pay fall

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.

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

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