Effective marketing, the targeting of emerging markets and signs that consumers have been trading up to premium brands have led to strong sales for drinks groups Diageo and Anheuser-Busch InBev.

Belgium-based AB InBev, the world’s largest brewer, has announced that, while sales were down in its two biggest markets of Brazil and the US, overall revenues for the second quarter rose 3.9%, boosted by successful new premium products, such as Bud Light Platinum and the margarita-flavoured Bud Light Lime Lima-a-Rita.

Separately, Diageo, the world’s biggest distiller, said annual net profits rallied by almost a third and sales grew by 5% to £11.4bn, lifted by strength in the US and emerging markets, which now comprise 42% of the group’s business. Its performance in the US was aided by sales of Crown Royal and Bulleit bourbon.

Ivan Menezes, who became Diageo chief executive earlier this month, said: “The effectiveness of our marketing campaigns remains a competitive advantage for us and this year we have seen these campaigns extend the leadership of our brands in many markets during the year.”