The Forest of Dean-based maker of Lucozade and Ribena saw its revenue increase by £60 million last year.

Suntory Beverage & Food GB&I, which employs 330 staff at its Coleford factory, has published an impressive annual report for the year ending 31 December 2021.

The soft drinks manufacturer saw turnover increase from £385.2m in 2020 to £445m in 2021.

Gross profit rose from £200.9m in 2020 to £240.8m in 2021.

The report said: "Following the easing of Covid-19 restrictions in the first three months of 2021 and the reopening of high streets across the country, the company has seen consumer buying behaviour shift back towards on-the-go vs at home consumption.

"The company continued with its efforts to build and focus on strengthening key customer and supplier relationships, operational efficiency at its manufacturing site in Coleford, brand positioning and new marketing activities including distribution and brand development."

As for the future, the report added: "The soft drink sector is likely to remain challenging, with intense competition amongst the major retailers and the continued pressure on household budgets."

But it added that the directors believed the foundation the company had built, coupled with significant planned investment and commitment to its brands, products, customer, supplier relationships and its employees, will put the company in a good position for future growth.

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