Maple Leaf Foods is seeing positive trends in its poultry business, with poultry sales up 8.5% on a year-over-year basis for the second quarter.
For the year to date, there has also been an increase, with poultry sales up 7.3%.
The Canadian company on August 7 reported its financial results for the quarter ending on June 30.
“It was a very strong quarter in poultry. We had branded sales growth and market share expansion,” Maple Leaf Foods President and CEO Curtis Frank said during the second quarter earnings call.
“The Maple Leaf Prime brand grew significantly. The Mina brand … contributed to growth. We had growth in both the retail and the foodservice channels, and (the poultry plant in London, Ontario) is obviously contributing in a way that we’re pleased with and proud of. Overall, it is a very positive and constructive poultry business.”
Frank touted company brand Maple Leaf Prime as the No. 1 fresh poultry brand in Canada, and Mina as the country’s leading halal poultry brand.
“Rooted in authenticity and backed by the Halal Monitoring Authority certification, Mina delivered double-digit sales growth in this past quarter and has achieved a five-year compound annual sales growth rate of 23%, supported by rising consumer demand, accelerated brand awareness and expansion across the fresh poultry, packaged meats and frozen foods categories,” Frank said.
Despite those successes, Frank did acknowledge that its sales for raised without antibiotics (RWA) poultry fell short of what company officials had hoped for.
When asked by an analyst if the RWA sales trend was a result of consumers being “weaker,” Frank indicated that he thought that was the case. But he remains optimistic about the situation with RWA poultry, saying the most recent figures do not “reflect the potential of the RWA and sustainable needs portfolio within poultry.”
