Concha y Toro has posted its figures for 2003. The Chilean wine exporter, which accounts for around 20% of exports by value, reported late last week that profits for last year hit US$31.3m, a rise of 12.8% on 2002 when net profit totalled US$22.79m.

Sales last year increased by 18.3% to $258.3m, based on strong volume growth to Europe and a slight rise in average prices.

The company saw its figures rise, in part, thanks to record sales of over 1m nine-litre cases of its signature label, Casillero del Diablo, primarily to Europe and the US.

Concha y Toro credited the yearly growth to an aggressive export campaign against the background of weakness in its domestic market.