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### Solid Start for FTSE 100 Despite Profits Drop
#### By James Sillars, Business News Reporter

A solid start for the FTSE 100 today, with the index rising by 0.5% in early dealing to stand at 8,469. Industrial and mining stocks led the gainers, while Burberry, a well-known constituent, posted a significant drop in profits.

Burberry’s annual results to the end of March showed a 34% fall in operating profits, reflecting a slowdown in luxury demand in the second half. Despite the challenging outlook for the current year, Burberry’s chief executive aims to take the firm upmarket, expecting a sales pick-up in the final six months. The company still managed to award a 61p per share dividend, flat compared to the previous financial year.

Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, expressed concerns about Burberry’s performance, noting slowing trends in the luxury sector. She highlighted the need for sharper brand positioning and cost recouping strategies amidst changing consumer preferences.

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