Vincor International, the Canadian-based wine group, posted a 17% increase in net turnover in the three-month period to the end of December and a 59% like-for-like increase in net income in comparison with the same period a year earlier.

Turnover in the quarter rose to a record C$111.3m from C$95.2m with net income up from C$7.9m to C$12.6m.

The company reported that the integration of Hogue Cellars, which it acquired in September 2001, had now been completed, allowing Vincor to realise the cost savings and synergies related to the acquisition ahead of schedule.

"In the third quarter, Vincor continued to successfully execute its growth strategy, maintained rising sales and profit momentum across North America and quickly and efficiently integrated Hogue Cellars," said Vincor president and CEO Donald L. Triggs.

"We had an excellent harvest in the Okanagan Valley, British Columbia, the Columbia Valley, Washington, and the Dunnigan Hills, California. Our Ontario vineyards also had an excellent vintage, with rain later in the harvest having a limited effect on some of the late-ripening varieties."