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UPDATE 1-Mexico's Coca-Cola Femsa reports 39 percent jump in profit

(Adds comments from Femsa CEO, details on sales)

MEXICO CITY, Oct 25 (Reuters) - Mexico's Coca-Cola Femsa , the world's largest Coke bottler, said on Wednesday its third-quarter net profit surged 39.2 percent from the year-earlier period, as sales increased.

Femsa, which operates in Mexico, Central America, Colombia, Brazil, Argentina and a number of other countries, said in a filing on Mexico's stock exchange that it posted a quarterly net profit of 3.15 billion pesos ($173.4 million).

Femsa said sales rose 16.6 percent to 49.36 billion pesos versus the same year-ago quarter on the back of increased prices for its products in Brazil, Colombia and Mexico as well as greater volumes in Argentina.

"Underscoring the capacity of our company to adapt to diverse situations, our Mexico and Central America divisions continued to implement our transformational initiatives in order to mitigate pressure on our margins and the impact that hurricanes and earthquakes had on our consumers," Femsa Chief Executive Officer John Santa Maria said.

($1 = 18.1785 Mexican pesos at the end of September) (Reporting by Anthony Esposito and Noe Torres; Editing by Paul Simao)