Philip Morris Cos.’ profit rose 26.9% to...

Philip Morris Cos.’ profit rose 26.9% to $2.34 billion for the year but fell 28.5% to $342 million for the fourth quarter due to restructuring costs and the debt taken on for its $13-billion acquisition of Kraft Inc. The New York-based diversified food, tobacco and beer producer said sales for the year rose 12.6% to $31.74 billion. The company said operating income and revenue increased in its tobacco, food and beer segments, but operating income declined sharply in its General Foods worldwide coffee and international division. The domestic tobacco business reported a 1.7% gain in unit sales while its international tobacco business reported operating income was up 33%.