UPDATE 1-Titan Europe loss narrows; sees full year in line

* H1 pretax loss 2.4 mln stg vs 11.4 mln a yr ago

* H1 rev up 12 pct at 166.8 mln stg

* Shares down 11.4 pct; had more than tripled since March (Adds details)

Sept 6 (Reuters) - British wheelmaker and engineer Titan Europe Plc (TSW.L) reported a narrower first-half pretax loss, helped by cost cuts, and said it expected performance for the full year to be in line with current market expectations.

Titan Europe shares, which have risen more than three-fold in value since March when it gave an upbeat full-year outlook, were down 11.4 percent at 70 pence at 0744 GMT on the London Stock Exchange.

In the January-June period, the company posted a pretax loss of 2.4 million pounds ($3.7 million), compared with 11.4 million pounds a year ago. Restructuring and rationalisation costs fell to 0.8 million pounds from 3.4 million pounds.

The company, which makes tracked and wheeled movement systems for mining, construction and agricultural vehicles, said said revenue rose 12 percent to 166.8 million pounds on growth in the construction sector, particularly in the BRIC (Brazil, Russia, India and China) countries. ($1=.6471 Pound) (Reporting by Juhi Arora in Bangalore; Editing by Unnikrishnan Nair)