BMW to restate '02 sales for new accounting system

Newswire

FRANKFURT, Jan 20 (Reuters) - German luxury carmaker BMW said on Tuesday it would restate its 2002 sales figures due to a change in its internal accounting system. BMW said in a statement its pre-tax and net profit figures would be unaffected but that it had revised up 2002 revenues by 129 million euros to 42.41 billion euros to include fees from credit card handling. The restatement, which also affects the cost of sales, adheres to International Financial Reporting Standards, IFRS, which it ...

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