Global Value Investing

[throwerw]

CEBU This is a new holding for ANS. It recently IPO'd at the end of 2010. The Company is the largest flight operator in the Philippines. Despite high fuel costs, they are putting up great numbers.

http://www.cebupacificair.com/aboutus/presentations.html

This is the one stock in ANS's portfolio that has dropped significantly so far in 2011, probably due to fear of margin compression from high fuel prices. CEBU has room to accomodate higher fuel prices. Net margins were 19% in 2010.

PE 7
Yield 3.75%
Rev. Growth 25%

ANS will most likely add to this position as the price drops, imo.