The Canadian wine company, Stonepoint Group Ltd, has reported a 267% surge in sales for the first quarter of 2003 from US$2.78m to US$7.44m.

The company attributed the strong increase to like-for-like growth in its private label business and the company's export launch in Japan.

Stonepoint also posted lower net losses for the first quarter, reporting a net loss of US$223,691, against US$540,650 for the first quarter of 2002.