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EARNINGS

February 02, 1988

W. R. Grace & Co. said it had a profit of $173.1 million for the year, in contrast with a $472.3-million loss in 1986, when it underwent a massive restructuring. The New York company said its operating income rose 16% for specialty chemicals, the energy business returned to profitability after a loss a year ago and its general business group, which includes cocoa and chocolate products, a book distributor and agricultural specialty operations, had a strong performance. The 1986 results included a charge of $368.8 million associated with a writedown of assets and restructuring costs and a provision of $220 million for the divestment of the agricultural chemicals business, and a gain of $124.2 million from divestment of Grace's retail and restaurant businesses.

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