SABMiller has reported a 14% increase in half-year pre-tax profit to $1,579bn (£767m) on sales up 15% at $10.781bn (£5.2bn).

The figures were boosted by a 15% increase in group lager volumes to 135 million hectolitres, but the brewer warned it expected tougher trading in the second half of the year.

“We have delivered a good first half performance, benefiting from the weighting of our portfolio of businesses towards emerging markets and a focus on developing our premium brands,” said CEO Graham Mackay. “We expect to make progress in the balance of the year but face a more challenging environment.”