LS make 17 to 20per yr.Do you even read your own company's...

LS make 17 to 20per yr.Do you even read your own company's report?
Announcement published on 25/1/22: Lemon Sky makes unaudited $15.5m rev & 2.7m NPAT

If ply is worth 500m mc ICI should and will be worth more
Just because the two make a similar amount of revenue doesn't mean the 2 should be trading at the same multiple, here are the reasons:

• Corporate governance risk: ICI is owned by FFG. FFG itself has going concern issue, the latest 4C shows it only has 2 quarters of cash to go. ICI is also influenced by Amonica Brands, has an ex AB1 on the Board. AB1 was delisted from the ASX on corporate governance concerns. Therefore, there is a risk that ICI will face the same fate if the same issue was found, given it is influenced by the same group of individuals.
• Aussie investors tend to price in some risk when investing in companies run by or operate in areas/countries that can be perceived as "dodgy" due to their political system, how people do business etc..., such as South East Asia. I'm a Viet born. Best friend's a Malay. Aussies wouldn't believe how dodgy some of these foreign companies can be.
• The share structure of ICI basically f*ck its own shareholders over: you have over 1m shares on issue (after the recent acquistion) for a 50m market cap company. There are more shares on issue than CSL or Aristocrat. And ICI's share price moves in "half a cent" block, basically guarantee big swing & high volatility.
• ICI's IPO at 20c. How many times have it gone through 20c? Share price has been on decline since 2018 and just picked up in mid 2020. How many disgruntled shareholders are there just waiting to sell? The structure & history of ICI guarantees every time there is a good announcement, it creates a liquidity event for people to get out.

I did scan through all gaming stocks on the ASX before participating in PLY's IPO. So i do know a thing or 2 about ICI. I decided to pass due to all the issues listed above. ICI reminds me of DXN. Yes, DXN is in the growing sector being the Data Centres, the share structure & history of DXN basically makes it uninvestable.