SABMiller this morning said that trading had been in line with market expectations despite increased competition in the US. The group announced worldwide underlying beer volumes up 5% in the six months to 30 September. The company said: "Miller's US domestic sales to retailers were down by 0.3% against prior year in a trading environment that has become increasingly price-competitive and subject to higher input costs, both of which have affected profitability." The company is expected to announce the completion of its takeover of Colombia's Bavaria making it the world's second-largest brewer.