SABMiller, the world's second-biggest beer maker, today reported a 5% rise in first-half revenues as higher prices offset the impact of lower beer sales.
The brewer of Miller Lite, Grolsch and Peroni said the volume of beer sold during the six months to the end of September fell 1%, including a 3% decline in the latest quarter.
In the Asia Pacific region, overall drinks volume fell 3% in the first half with an 8% drop in the second quarter.
Beer volume in China "declined markedly" during July and August, the company said, as poor weather in most of the central provinces meant people drank less lager.
Including soft drinks, such as the ones SABMiller sells for Coca-Cola, first-half drinks volume rose 1%, as gains in Latin America, Africa and Europe offset declines in Asia Pacific and North America.
For the second quarter, revenue rose 3% as overall sales volume fell 1%.
SABMiller has been trying to offset sluggish growth in developed markets with cost cuts and acquisitions. It approached Dutch rival Heineken about a takeover last month but was rebuffed.
Many analysts and investors saw the move as a defensive one, aimed at bulking up to fend off an approach from larger rival Anheuser Busch InBev.
SAB's chief executive Alan Clark last week denied this. SAB's stock soared to an all-time-high of 3,857 pence on September 15, fuelled by hopes the long-rumoured InBev takeover was imminent, but have since fallen nearly 16%.
