UPDATE 3-SABMiller Q2 beer volumes rise, warns on year

* Q2 underlying beer volumes rise 1 pct

* Warns prospects for year increasingly uncertain

* Shares fall 1.3 percent (Adds Finance Director comments, analyst, shares)

By David Jones

LONDON, Oct 14 (Reuters) - Brewing giant SABMiller (SAB.L: Quote, Profile, Research) reported a 1 percent rise in second-quarter worldwide underlying beer volumes on Tuesday but warned of an uncertain year due to slower growth and weaker demand, which sent its shares lower.

The London-based brewer of Miller Lite, Peroni, Castle and Snow beers said the quarterly performance put its half-year (April-September) beer volumes marginally ahead after a 1.6 percent fall in its first quarter.

But it cautioned that prospects for the rest of its financial year to March 2009 were "increasingly uncertain" due to deteriorating global economic conditions, weakening consumer demand and volatile foreign exchange rates.

The warning sent the shares down 1.3 percent to 957 pence in a London market up 4.7 percent by 0835 GMT dragging other brewing stocks down. InBev (INTB.BR: Quote, Profile, Research) was off 3.5 percent.

SABMiller is the world's largest brewer by volume, but will lose that crown when InBev's $52 billion deal to buy Anheuser-Busch BUD.N completes later this year.