W.R. Grace & Co. reported a 20%...

W.R. Grace & Co. reported a 20% drop in profits for the fourth quarter and a 21% decline for the entire year, citing an industrywide slump in chemical production, combined with sluggishness in the fertilizer and energy industries, which also constitute important segments of Grace. Grace’s restaurant group posted a gain in fourth-quarter operating income, and its retailing division also had higher income.