New York  -  US soft drinks giant Coca Cola reported Wednesday that its first-quarter net income reached 1.5 billion dollars, surging 19 per cent from 1.26 billion dollars in the same 2007 period.

The profit growth came on net revenues of 7.38 billion dollars, up 21 per cent from 6.1 billion dollars in the first quarter last year, with the company citing higher sales of drink concentrate, acquisitions of bottlers and favourable foreign exchange rates.

The sales and profits gains - which surpassed analysts' projections - came despite a 4 per cent slippage in sales in North America, reflecting "challenges in the US economy" as consumers were dining out less amid the economic uncertainties.

But volume sales on foreign markets gained by 7 per cent, with Coca Cola citing stronger business in such markets as Turkey, India, China and Brazil.

Markets outside of North America now account for some three- quarters of the Atlanta, Georgia-based company's sales performance. (dpa)