Brewing giant SABMiller on Thursday reported adjusted earnings per share of 80 US cents for the six months ended September 2009, up 6 percent from 75.2 cents a year ago. Adjusted EPS were 49.9 UK pence compared with 38.9 pence and 648.9 SA cents from 585.8 cents ? a rise of 10 percent.

Basic earnings per share were down 34 percent to 63.0 cents from 94.8 cents before.

The group said lager volumes decreased 1 percent on an organic basis with growth in Africa and Asia offset by weaker volumes in other markets.

Group revenue was down 6 percent to $13.355 billion before and EBITA was 2 percent lower at $2.187 billion, impacted by weakness of the group's major operating currencies against the US dollar compared with the same period last year.

The group said firm pricing and cost efficiency drives organic, constant currency group revenue growth of 3 percent, EBITA growth of 11 percent and margin growth of 110 bps.

SABMiller chief executive Graham Mackay said: "In some of the toughest economic conditions seen for decades, we have continued to take share in a number of markets. The weakness of our major operating currencies against the US dollar has affected reported results, but we have continued to generate a strong underlying performance.

"The actions we have taken to position our business globally, to invest in brands and to develop our operational capabilities will continue to underpin our long-term growth."

McKay said the group expects current trading conditions to continue in the second half, as unemployment, retail spending and other consumer indicators lag the reported stabilisation of GDP in many of SABMiller's markets.

"We expect second half reported results to benefit from favourable currency movements, provided our major operating currencies remain at or near current exchange rates to the US dollar.

"The group's financial position remains strong and we are well positioned to take advantage of future improvements in the market environment," he said.