Theolia stock dives on Friday after weak 2010 sales

(ADPnews) - Feb 14, 2011 - French wind energy group Theolia (EPA:TEO) saw its shares plunge 6.20% to EUR 1.21 at close on Friday in Paris following the release of its 2010 sales figures.

The group said that its annual revenue tumbled 43% on the year to EUR 187.8 million (USD 254.4m) due to asset sales, announced in 2009, aimed at bolstering its finances.

Theolia, which is set to release its full-year results on April 14, announced the conversion of 115,000 convertible bonds, known as OCEANE, on February 9, 2011. The operation resulted in the issue of 993,600 new shares.

(EUR 1.0 = USD 1.355)

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