Four Seas Mercantile (HKG:0374) expects to report a drop in its profit for the year ended March 31, according to a Friday bourse filing.

The food distributor expects consolidated profit of between HK$8 million and HK$13 million, down from HK$35 million for the comparable year-ago period.

The company attributed the decline to a host of factors, including cautious consumer spending.

Four Seas Mercantile expects to post its financial results in late June.

Shares gained 4% in Monday's afternoon trade.