* Q3 comparable net profit rose to 216 million euros
* Average forecast was for 219.6 million euros
* Very strong volume in Russia, cost savings help
(Add CEO's comments, details)
ATHENS, Oct 27 (Reuters) - Greece-based bottling company Coca-Cola Hellenic (CCH) said on Wednesday third-quarter net profit rose 3 percent year-on-year, thanks to strong volume during Russia's sweltering summer and cost savings.
CCH, the world's second-largest bottler of Coca-Cola soft drinks, posted comparable net profit of 216 million euros ($301.4 million) from 210.2 million in the same period last year, versus an average forecast of 219.6 million in a Reuters poll.
Estimates for net profit ranged between 211 and 229 million euros.
Sales volume rose 5 percent year-on-year to 611 million unit cases, more than expected, after four consecutive quarters of decline.
A 30-percent sales volume rise in Russia offset tough conditions in Greece, Hungary, Bulgaria and Romania, the company said..
"The improved group volume and operating profit momentum in one of our key selling periods was supported by ongoing tight cost control, increased operating leverage and favourable currency movements," CCH's Managing Director Doros Constantinou said in a statement.
He said government austerity measures were still hurting consumer spending, especially in established markets.
CCH trades at 15.8 times its estimated 2010 earnings versus a multiple of 13.7 for Coca-Cola Enterprises, the world's largest Coke bottler, according to data from Thomson Reuters I/B/E/S.
(Reporting by Angeliki Koutantou; Editing by David Cowell)