VIENNA May 14 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)