Coca-Cola Company has reported a 2% increase in third-quarter volumes, but a 3% decrease in profits due to the deconsolidation of its bottling operations in the Philippines and Brazil.

In Europe, volumes fell 1% in the quarter or by 2% in the year to date following high unemployment and low consumer confidence in southern Europe.

However, Coke said Cola-Cola Europe gained volume share in core sparkling and juice drinks during the quarter and that it also saw “improved” performance in northern Europe. Its Northwest Europe, Nordic and Germany business units all notched up volume growth of 3% following its ‘Share a Coke’, ‘Coke with Meals’ and ‘Crazy for Good’ campaigns.

Coca-Cola America grew volumes by 1%, with North America up 2% and Latin America even. Volumes in Eurasian and Africa increased by 4%.

“We delivered sound third quarter results in the confines of an ongoing challenged marcoeconomic environment,” said chairman and CEO Muhtar Kent.

“While we saw sequential improvement in the business compared to the second quarter, together with our global bottling partners, we remain constructively discontent and resolutely focused on further advancing our growth trajectory.”