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Gas Egypt's profits face scrutiny
The financial statement audit results for Gas Egypt for the six months ending June 30, 2026, reveal that the company achieved a net profit of approximately 234.7 million Egyptian pounds, despite recording operating losses of about 78.2 million pounds. Investment revenues totaling 865.7 million pounds contributed to turning net operating losses into profits. However, the Central Auditing Organization made cautious accounting observations, including the need to reconcile customer and related party balances and to correct the treatment of deferred taxes. Additionally, there are projects worth 159.8 million pounds that have remained incomplete for years; it is recommended to expedite their completion to utilize funds effectively.
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