Chairman's AGM & Interim Management Statement

EMBARGOED UNTIL 0700 HOURS, 28 APRIL 2010                   

                CHAIRMAN'S AGM AND INTERIM MANAGEMENT STATEMENT                

                                 28 APRIL 2010                                 

Bodycote is issuing its interim management statement covering the period from 
1 January to 27 April 2010 to coincide with the company's 57th Annual General
Meeting. The financial and operational data set out below is in respect of the
Group's first quarter (1 January to 31 March 2010) unless otherwise stated.

GROUP

Revenues for Q1 2010, at constant exchange rates, are unchanged from the same
period in 2009, but are 3.4% higher on a like for like basis, excluding sales
from sites now closed. At actual exchange rates, revenues were 2.6% lower than
in the same period of last year, reflecting the strengthening of sterling year
on year.

Continuing the trends seen in the final quarter of 2009, there has been a
notable month on month improvement in revenue during the first quarter, in
contrast to the trends last year. Revenues in constant currencies were 7.8%
higher in Q1 2010 than in Q4 2009.

Cost savings resulting from the wide-ranging restructuring programme were also
slightly higher than forecast and resulted in a significant improvement in
operating profit in Q1 2010, compared to the same period last year.

AEROSPACE DEFENCE & ENERGY

The Aerospace Defence & Energy business has seen demand grow slowly but
steadily from the low point at the end of summer 2009 and, at constant exchange
rates, Q1 2010 revenues were 6.0% higher than in Q4 2009, but 11.3% below Q1
2009. Demand from aerospace OEMs has continued to be robust, with new
programmes increasing as expected, but the continuation of lower flying hours
by airlines has resulted in weakness in aftermarket demand. Revenues in the
aerospace and defence sectors account for 21% of Group sales. Industrial gas
turbine revenues began to weaken during Q3 2009 and remain at low levels. Oil &
gas demand has improved markedly in recent months, particularly in North
America. In total, sales in the energy sectors account for approximately 13% of
Group sales.

AUTOMOTIVE & GENERAL INDUSTRIAL

The Group has benefitted in all territories from much improved car and light
truck demand. This sector accounts for 23% of Group sales. Heavy truck demand
(4% of Group sales), has only recently begun to recover. Sales to general
industrial customers (39% of Group revenues) have also improved but only
modestly. Overall revenues in the Automotive & General Industrial business, in
constant currencies, are higher than Q4 2009 by 9.0% and by 9.6% compared to Q1
2009.

OUTLOOK

Looking ahead, the pace of recovery remains uncertain and possibly uneven,
particularly for the second half of the year. If current demand levels
continue, however, the Board expects that headline operating profit for the
year will be towards the upper end of the range of analysts' forecasts1.

The Interim results will be announced on 28 July 2010.

1 Range of Analysts' forecasts for EBIT (headline operating profit) (Bloomberg)
= £ 26.8m to £34.7m

Investor Conference Call

Stephen Harris and David Landless will be hosting a conference call for
analysts and investors at 0830 hours today (28 April 2010)

Participant's Access Number: [phone]

Participants will be asked for names only


For further information, please contact:

Bodycote plc, Stephen Harris, Chief Executive
Bodycote plc, David Landless, Group Finance Director
Tel No [phone]

Financial Dynamics
Jon Simmons, Susanne Yule
Tel No [phone]


The Interim Management Statement, issued in accordance with the EU Disclosure
and Transparency Directive, may contain forward-looking statements which:

  * Have been made by the directors in good faith based on the information
    available to them up to the time of their approval of this statement; and
   
  * Should be treated with caution due to the inherent uncertainities, which
    are beyond the Board's ability to control or estimate precisely and include
    both economic and business risk factors, underlying such forward looking
    information.