Michel Laroche, the French wine group has reported year-end consolidated turnover for 2001/2002 of  €28.9m (US$26.1m), an increase of 5% on the previous year.

Exports made up the lion's share of the company's turnover, with 85% of sales going to 75 markets around the world.

The Chablis-based wine group, which specialises in premium, bottled wine, will announce the rest of its results at the end of June.

As well as operations in the Chablis and Languedoc regions of France, Laroche has operations in Chile.

Earlier this month The International Wine Investment Fund, controlled by Berren Asset Management, almost doubled its stake in Michel Laroche from 4.1% to 8.1%, an investment worth A$1.1m. The Fund has already invested some $1.3m in Laroche.