Coke Says it Inflated Volume Numbers in ’03
From Associated Press
Coca-Cola Co. said it inadvertently inflated worldwide unit case volume increases for two quarters last year, and underreported volume in the first three months of this year.
The world’s biggest beverage company blamed the mistakes on errors in production numbers reported to Coke by an Indonesian water company with which it is affiliated.
“The misreporting of this volume to the company had an inconsequential impact to the company’s financial statements,” a spokesman said.
Coca-Cola shares fell 35 cents to $43.85 on the NYSE.
