Chilean Coke bottler Embotelladora Andina has posted a sharp rise in net profit for the final quarter of last year.

The company said yesterday (8 February) that net profit in the fourth quarter was up by 46% year-on-year to US$47.6m.

The company, which bottles Coca-Cola products in Argentina, Brazil and Chile, credited the rise to the success of Coke's Dasani bottled water in Chile. Sales volumes in the company's domestic market increased by 5.7% in the quarter and by 4.7% in the full year, thanks to the water brand.

Andina said that Dasani helped grow its water sales in Chile by 24.5% during the quarter. Sales volumes in Brazil, the company's biggest market, were up by 5.7% in the quarter and by 10.2% for the year.

Argentinean sales volumes were up by 4.1% for the three-month period and by 5.7% for the year.

Last year, Andina teamed up with Embonor and Polar to form a joint venture, Vasa, to produce branded mineral water and juices under licence from Coke.

Andina, which holds a majority stake in the joint venture, was to receive compensation from Embonor and Polar for its loss of exclusivity in producing some of the brands.