SABMiller, the world's second biggest brewer, reported disappointing third-quarter sales, hurt by weaker beer volume.
The maker of beers including Peroni Nastro Azzurro and Grolsch said today that net producer revenue rose 4% for the quarter ended December 31, in line with its expectations.
Sales volume climbed 2%, as a 7% gain in soft drinks was tempered by a 1% gain in lager that was below some analysts' estimates.
The company cited price increases and volume growth in emerging markets of Africa, Latin America and China.
It also said its results were hurt by the depreciation of key currencies against the US dollar, notably the South African rand, Australian dollar, Peruvian Nuevo sol and Colombian peso.
In Europe and North America, the company said trading continued to be plagued by weak consumer sentiment.
Lager sales rose 6% in Africa, 2% in Latin America and 13% in China, but fell in Europe, Australia and North America.