Shares digital

Zirax (ZRX:AIM) 10.75p

Margins were ahead of expectations and pre-tax profits increased by 35% to $5.3 million in 2007. Both the oilfield process chemicals and de-icing chemicals businesses performed strongly, driven by increasing demand from the oil and gas sector, and higher prices from Moscow. Profits should hit $6.3 million this year and $9.6 million next year slashing the PE to just 5.5. Though the shares have disappointed since tipped at 13.3p on 2 August 2007, they look dirt cheap at this price.