A £13 million investment has helped ensure what a major Gloucester employer calls its "underlying profitability".

But while the significant investment in its Gloucestershire factory might have given Lucozade Suntory Ribena confidence going forward, its annual report reveals it is yet to turn into profits for the firm.

The Japanese-owned company, which employs 330 at its Coleford operation in the Forest of Dean, sounded surprisingly upbeat in its report, despite a fall in sales of £6 million and a fall in gross profits from £221.2 million to £213.6 million.

Nevertheless, sales at the firm - listed in this year's Punchline magazine's 100 Biggest Employers in Gloucestershire edition - were still £412.5 million with total borrowing decreasing to £383 million from £405 million in 2017.

"As of 31 December 2018 the company's net assets were £880.1 million, an increase of £15.7 million from the previous year which reflects the profitability of the company in the year net of a dividend paid during the year £36.1 million," said the annual report, signed by director Toby McKeever.

The significance of the Coleford factory was underlined in the report.

"The company operates one manufacturing site in the UK, with a range of contract manufacturers and third party suppliers.

"The loss of all or part of any site, key manufacturer or key third party supplier, for example a fire, equipment malfunction or third party insolvency, could present significant difficulties," said the report.

"We have business continuity plans in place to manage the impact of such an event. In addition the company has insurance programmes in place to mitigate the financial consequences of such an event."

And lastly, but not least - Brexit. It was higher up in the report, but unsure how many of you we would lose with an earlier mention it story we left it till now.

"The directors continue to monitor the implications of the vote to leave European Union on the short and medium prospects of the company.

"The company cannot comment on the likely impact when the United Kingdom leaves the European Union, however, the company is aware that there are potential risks associated with the exit, including, for example, as a result of changes in the regulatory framework and the impact on foreign exchange rates.

"The company will continue to monitor development and adapt our strategy as the impact of the UK exit becomes clearer."