Annual Report & ACCOUNTS for the year ended 30 June 2014

HYR 2014

Non-underlying items comprise:

2014
£000
2013
£000
Amortisation of intangible assets acquired as a result of acquisitions16,54318,195
Rationalisation costs4792,577
Expenses related to the acquisition of Phycox150
17,17220,772

Rationalisation costs relate to the integration of Eurovet Animal Health B.V. and the ensuing senior management team restructure.