5. Non-underlying items

Amortisation of acquired intangible assets represents the amortisation of customer relationships, order books and brand name, which were identified on the acquisition of Harry Peers and DAM Structures.

Acquisition-related expenses of £1,816,000, represent acquisition and transaction costs associated with the VSCG acquisition, which was finalised in April 2023, after the year end date.

The basis for stating results on an underlying basis is set out on note 1. The board believes that non-underlying items should be separately identified on the face of the income statement to assist in understanding the underlying performance of the Group. Their separate identification results in the calculation of an underlying profit measure, which is the same as that presented and reviewed by management and are normally excluded by investors, analysts and brokers when making investment and other decisions. Accordingly, certain alternative performance measures ('APMs') have been used throughout this annual report to supplement rather than replace the measures provided under IFRS, see note 31.