The French wine producer Michel Laroche has reported net profit of €1.2m (US$1.4m) for the financial year 2002/03. The figure is up from the net profit of €900,000 last year. Operating profit was up to €3.2m, from €3.0m, on turnover of €31.1m, up from €29m last year. Foreign sales accounted for 87% of all turnover.