UPDATE 1-MF Global's Q2 profit in-line with analysts' estimates

* Q2 profit, excluding items, $0.14

* Net revenue falls 14 percent

* Volumes down 7 percent

Nov 5 (Reuters) - Futures and options broker MF Global Ltd (MF.N) posted a quarterly profit in-line with analysts expectations, helped by a 25 percent drop in expenses.

The company, which replaced its chief executive last week, said it will focus on organic growth and consolidation.

"Given the current market environment, we believe clients may increasingly seek out the certainty of central-clearing counterparties," CEO Bernard Dan said in a statement.

MF Global's strong position ideally situates it at the nexus of any shift that may take place from OTC to a cleared environment, Dan said.

The company's shares have lost more than 85 percent of their value since January, hit by a rogue-trading scandal and liquidity concerns.

Net income for the second quarter was $9.7 million, or 3 cents a share, compared with a net loss of $90.6 million, or 78 cents a share, in the year-ago period.

Net revenue fell to $372.9 million in the quarter. Total expenses reduced by about $113 million. Interest and transaction-based expenses fell 68 percent.

Shares of the company closed at $4.05 on Tuesday on the New York Stock Exchange.

For the alerts, please double click on [ID:nWNAB7961] . For a company press release, double click on [ID:nBw055543a] (Reporting by Sweta Singh in Bangalore; Editing by Amitha Rajan)