The UK headquartered brewing giant said that lager volumes were up 3 per cent on the same period of 2010, but that beer consumption continued to vary across markets.

The company said it saw, “further healthy growth in Latin American and Africa and underlying weakness persisting in North America and Europe”.

Beer growth slowed in the second quarter (Q2) SAB Miller said, reflecting bad weather in Europe and China over the trading period.

However, the firm grew soft drinks volumes 6 per cent in H1, with volume growth and “selective price increases” to customers, along with mix benefits, increasing group revenues by 6 per cent.

SABMiller said: “Raw material costs rose moderately and investment in the group's brands and market facing capabilities was increased, which together with higher central costs constrained margins. Overall, financial performance for the half year was in line with our expectations.”