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Pandemic-reduced marketing costs fuel Beggars profits growth

Independent label Beggars Group has published its financial results for 2020 via Companies House in the UK.

The filing, which was first reported on by MBW, reveals that Beggars’ revenues fell slightly from £63.1m in 2019 to £61.7m in 2020, but that its operating profit grew from £3.7m to £6.5m in that period.

The label noted that “significantly reduced marketing and promotional expenditure” during the Covid-19 pandemic, which saw a shift towards digital marketing for the company, was a key factor in the operating profit growth.