CORRECTED - CORRECTED-UPDATE 1-Management Consulting H1 underlying profit fa

(Corrects interim dividend in third bullet point and paragraph 1 to 0.4 pence from 4 pence)

* H1 underlying pretax profit 10.4 mln stg vs 13.1 mln stg

* H1 oper profit 3.9 mln stg vs loss 23.7 mln stg

* H1 rev falls 7 pct, keeps interim div of 0.4p

* Does not see H2 trading to alter significantly from H1

* Explores listing in United States (Adds details)

Aug 3 (Reuters) - British support services company Management Consulting Group Plc (NZX.L) posted a 20.6 percent fall in first-half underlying pretax profit hurt by losses at its Kurt Salmon Associates business, but maintained its 0.4 pence interim dividend.

The group, an umbrella for a number of different consultancy brands, said the trading conditions faced during the first half of 2009 were not expected to alter significantly during the rest of the year.

"Many client companies have cut back or delayed their discretionary expenditure budgets and, in some sectors and geographies, business has been hard to come by," Chairman Alan Barber, who plans to step down by the middle of 2010, said.

For the six months to June 30, the company posted an underlying pretax profit of 10.4 million pounds ($17.4 million), compared with 13.1 million pounds a year earlier.

Operating profit was 3.9 million pounds, compared with a loss of 23.7 million pounds a year ago.

Revenue fell 7 percent to 155.1 million pounds.

The company said that as it trades at a significant discount to the valuation multiples of its peers publicly listed in North America, it planned to review the suitability of a secondary U.S. listing in the medium term.

Shares of Management Consulting closed at 24 pence on Friday on the London Stock Exchange. ($1=.5978 Pound) (Reporting by Shivani Singh in Bangalore; Editing by Gopakumar Warrier)