LONDON (AP) — SABMiller PLC — the brewer of Grolsch, Miller Genuine Draft and Peroni Nastro Azzurro lagers — said beer sales increased slightly in the first half of its fiscal year, as rising demand from emerging markets offset slowing demand from established American and South African buyers.

The world's third-largest brewer said that beer sales rose one percent in the quarter ended September 30, and three percent for the first half. The company does not report monetary figures or profit in its half-year trading update.

The increase in beer sales was led by the brewer's new markets of Peru, Ecuador and Romania, where growth ranged from 10 percent to 24 percent compared to a year earlier.

But the company said was not confident about its prospects for the rest of the year.

"Deteriorating global economic conditions, weakening consumer demand and volatile exchange rates make the prospects for the rest of the financial year increasingly uncertain," said the trading update.

The company said increases in prices, marked by a five percent increase in revenue per hectolitre, helped offset higher input costs. A hectolitre is 100 litres, while a litre is 1.06 quarts.

Shares rose 1.2 percent to 982 pence ($17.28) in trading in London.

The company's US unit, which now operates as a joint venture with Molson Coors Brewing Co., saw its sales to retailers rise less than one percent in the latest quarter. Flagship brand Miller Lite's sales fell 3.6 percent while Coors Light sales rose 6.8 percent.

Crafts and imports rose five percent in the period compared to the previous year but lime-flavoured Miller Chill posted a significant drop due to what SABMiller called "aggressive competition" in the segment— which now has Anheuser-Busch Cos. Inc.'s Bud Light Lime.

Demand dropped off in key markets, like Europe, which saw two percent volume growth in the first half of the year, down from 12 percent growth in the prior year. Romania, a new market for the company, led growth with a 24 percent rise in volumes, while Poland posted a four percent gain. Russia's volumes were down four percent, on sustained high inflation, and the Czech Republic was down five percent, though SABMiller said business has been improving there with new marketing initiatives.

Other new markets such as Peru also Ecuador helped the increase in beer sales. Overall in Latin America, lager volumes grew 3 percent. Columbia's volumes fell 3 percent but Peru's rose 10 percent and Ecuador rose 14 percent.