The Directors do not consider that the principal risks and uncertainties of the Group have changed since the publication of the annual report for the year ended 31 December 2012. The risks and associated risk management processes can be found in the 2012 Annual Report, on pages 26, 27, 82 and 83, which is available at www.bodycote.com. The risks referred to and which could have a material impact on the Group's performance for the remainder of the current financial year relate to:

• Markets;
• Loss of key customers;
• Human resources;
• Safety and health;
• Environment;
• Service quality;
• Regulatory and legislative compliance;
• Liquidity;
• Interest rate; and
• Currency fluctuation.