Yes you are right - operating losses on projects are shared just as operating profits are shared and the figure you mention did appear as a loss in the P&L account of GNP in 2023. It does look as though they had a couple of good years with Maali and luckily shared project profits in previous years totalled more than the eventual project loss suffered. Riches obviously saw the writing on the wall and got out before they collapsed. That last project was probably a contract they could not wriggle out of otherwise I would have thought they would have got out sooner.
Ann: FY24 Half Year Results Investor Presentation, page-12
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