The pause that refreshes corporate thinking;
Adjustments in the forex rate in Venezuela have led to a 7% reduction in Coca Cola operating income in the first quarter, the company informed.
"This outlook reflects the negative impact of devaluation in Venezuela, partially offset by slight improvements in other currencies," the report explained.
The adjustment in the foreign exchange policy was reported to have cost Coca Cola USD 247 million during the first quarter of 2014. In January-March 2013, the company recorded charges of USD 149 million.¡A la revolución!