UPDATE 1-Mexico's Coke Femsa reports higher 4th-qtr profit

* Q4 profit 4.324 bln pesos vs 3.212 bln pesos yr earlier

* Quarterly revenue up 10.4 pct to 39.86 bln pesos

Feb 27 (Reuters) - Mexico's Coca-Cola Femsa on Wednesday said its fourth-quarter profit rose 35 percent.

The company, a joint venture of Coca-Cola Co and Mexican firm Femsa, said fourth-quarter profit increased to 4.324 billion pesos ($336 million) from 3.212 billion pesos in the year-earlier period.

Revenue increased 10.4 percent to 39.86 billion pesos.

Coke Femsa has been snapping up smaller bottlers in Mexico in the last two years and it also recently made its first foray outside of Latin America.

Last month the company completed a $688.5 million acquisition of a 51 percent stake in Coca-Cola Co's Philippines bottling operations.

Earlier in January Coke Femsa agreed to buy Mexico's Grupo Yoli, the maker of a popular lime-flavored soft drink, in a deal valued at around $700 million.