Megabites profits beat forecasts as sales rise Fast food giant, Megabite has reported better-than-expected profits for the first quarter, with sales up in Canada. The company earned $650 million in sales, up from $520 million in the previous year. According to its most recent annual report, its profits also soared last year to $56 million from $35 million. In a statement, the companys spokesperson, David Young said low costs of raw materials, equipments, wages, coupled with stable exchange rates accounted for the rise. Mr. Young also remarked that the company would donate some of its profits to local charity organizations. Delihouse and Foodworld, Megabites main rivals, have not yet released their end-of-year financial reports. But the factors cited by Megabites spokesperson have benefited businesses around the country, and analysts expect to see that both Delihouse and Foodworld performed as well as Megabite. What is stated about Megabites first quarter sales?