CORRECTED - CORRECTED-UPDATE 1-Carpathian H1 profit falls
(Corrects last paragraph to show the stock trades in euros, not pence.)
* Says amends 40.4 mln euro debt facility with Erste Bank
* H1 NAV per share falls to 81 euro cents from 169 euro cents
* Says has resources to continue operations for 18 months
* Shares fall 14 pct (Adds details)
Sept 28 (Reuters) - British commercial property investor Carpathian Plc (CPTA.L) on Monday reported a lower first-half pretax profit due to a fall in net rental income, but said it expected to pay its first dividend within the next three months.
The company also said it had signed an amendment to the 40.4 million euro debt facility with Erste Bank, and accordingly, the loan-to-value covenant had been waived until loan maturity in March 2011.
The company said it had adequate resources to continue its operations for at least the next 18 months.
The company reported a pretax profit of 2.03 million euros ($2.96 million) for the six months ended June 30, compared with 10.9 million euros a year ago.
Adjusted profit after tax, excluding fair value, deferred tax and foreign exchange adjustments, fell to 2.4 million euros from 7 million euros.
During the first six months of 2009, net rental and related income was 13.6 million euros, down from 21.2 million euros a year earlier.
Carpathian, which focuses on retail properties in Central and Eastern Europe, said its net asset value per share more than halved to 81 euro cents from a year earlier.
Shares of the company fell 14 percent to 0.23 euros at 0722 GMT on the London Stock Exchange. ($1=.6856 Euro) (Reporting by Kumar Alagappan in Bangalore; Editing by Deepak Kannan)
