Hain Pure Protein sales up despite tough turkey market
Company optimistic about potential turkey sales during upcoming holiday season
Hain Pure Protein’s net sales increased 8 percent for the fourth quarter of fiscal year 2017 and 4 percent for the fiscal year as a whole, the company announced during a quarterly earnings call on August 29.
Hain Pure Protein, the poultry segment of natural and organic foods company Hain Celestial, worked through turkey pricing pressure, supply disruption and production constraints, and still delivered strong net sales of $122.2 million, said Hain Celestial President and CEO Irwin Simon.
The company saw its biggest success with its FreeBird and Empire brands, both of which experienced “solid growth and profitability,” Hain Celestial CEO Irvin Simon said, but Hain Pure Protein’s Plainville Farms turkey had a more challenging year.
“As turkey prices came down during the fiscal year, it pressured our Plainville Farms’ profitability,” Simon said.
Hain Celestial’s 2017 fiscal year concluded on June 30.
Turkey turnaround expected
Simon is optimistic that the Plainville Farms brand will become more profitable with the upcoming holiday season and demand for antibiotic-free turkey.
The company has a “strong, strong plan in place for strong execution during the holiday season,” Simon said.
“We plan to sell more organic, antibiotic-free turkey and we will further expand our business in higher-margin areas. Going forward, we continue to expect our organic protein business to grow double digits beginning the fiscal year 2018, and operational improvements to begin yield results,” said Simon.
The diversified natural and organic foods company has operations in North America, Europe, Asia and the Middle East. It is headquartered in Lake Success, New York.
According to the WATTAgNet Top Poultry Companies Database, Hain Pure Protein is the 11th largest turkey company in the United States, having slaughtered 221 million pounds of live turkeys in 2016. It is also tied with Gentry Poultry as the 29th largest broiler company in the U.S.