VIENNA, May 14 (Reuters) - Austrian fireproof materials maker RHI posted a 6 percent drop in first-quarter revenues, saying weaker new construction activity hurt its glass and cement businesses.
Revenues fell to 402 million euros ($551 million), RHI said on Wednesday, as sales at its Industrial division dropped 17 percent. The figure was far below the average estimate of 424 million euros in a Reuters poll of analysts.
RHI said revenues in its Steel division, its main business, were stable, and that it expected significantly higher sales overall in the current quarter due to strong incoming orders.
$1 = 0.7296 Euros Reporting by Georgina Prodhan; Editing by Mark Potter