Coca-Cola, the largest soft drinks company in the world, has reported a 4% rise in net sales during the last three months of the year.

But sales in North America, the company's most important and largest market, rose just 2%.

During the three months, the company reported a net income of $914m for the last three months of 2001 up from $242m a year earlier when profits were hit due to one-off charges.

Coca-Cola expects its 2002 earnings to grow in line with its long-term forecast of 10-11% annually.

Softness in the US market was one of the main reasons why the company had lowered its growth forecast during 2001.

The company said it would continue to boost the production of carbonated soft drinks and extend its portfolio of non-carbonated beverages.

"We continue to focus on our strategic priorities, each element of which will continue to strengthen our business model, allowing us to achieve strong results and returns for our share owners," Coca-Cola Chief Executive Doug Daft said.

The figures met the lower end of analysts' expectations.