Greek Thessaloniki Water's 9M profit up 85 pct

* Company will not increase tariffs in 2009

* Sees business plan revision in December

* Sales up 12.5 percent to 56 million euros

ATHENS, Nov 18 (Reuters) - Greece's Thessaloniki Water Supply and Sewerage Co. (EYATH) (TWSr.AT) said on Tuesday nine-month net profit rose 85 percent to 11 million euros ($13.89 million), helped by cost cuts.

"We have exceeded our targets for the nine-month period due to an effective reduction in costs. We have almost achieved our targets for the year," EYATH Chief Executive Giorgos Skodras said.

EYATH, which is diversifying its activities and plans to enter new markets by 2011 to boost profit, said it will not increase its 2009 tariffs to help customers ride out the financial crisis.

"We will not increase tariffs for 2009. We don't see this move affecting our profit," Skodras said.

The northern Greek water company said nine-month sales increased by 12.5 percent to 56 million euros.

EYATH earlier this year signed a strategic deal with wine producer and bottling company Malamatina to sell bottled table water. EYATH will hold 55 percent of the new unit, which is expected to have yearly sales of about 5 million euros.

Skodras said the company will present a revised business plan, which will include higher investments, in December.

EYATH, which is 74 percent state-owned, has a market capitalization of 132.1 million euros according to Reuters Estimates. French energy company Suez (LYOE.PA) owns about 4.9 percent. (Reporting by Renee Maltezou; Editing by Erica Billingham)