Norway-based food group Rieber & Son has become the latest to report a fall in full-year profits due to rising commodity costs.

The company, which sells across Europe, said EBITDA reached NOK487m (US$89.2m) in 2007, down from NOK537m a year earlier.

The fall in earnings came despite a 2.7% rise in sales to NOK4.6bn, Rieber & Son said.

"While the total market in all of the areas where Rieber & Son operates developed positively in 2007, the year was characterised by increasing pressure on prices for most input factors," the company said.