New York - Coca-Cola Co, the world's largest soft drink manufacturer on Wednesday reported a third-quarter profit increase of 14 per cent to 1.9 billion dollars despite the economic downturn.

Sales rose by 9 per cent to 8.4 billion dollars. The company's success in emerging countries had more than compensated for the weak US market, CEO Muhtar Kent said Wednesday in a statement released by Coca-Cola headquarters in Atlanta, Georgia.

Coca-Cola has gained significantly from the weak dollar, with its performance clearly exceeding expectations.

Its rival, PepsiCo on Tuesday announced cost reduction measures after a decline in profits.