British industrialist Sanjeev Gupta has been handed $6 million by his Australian steel business InfraBuild, despite the company slumping to a loss in the last financial year amid a surge in cheap Chinese steel exports.
Confidential documents obtained by The Australian Financial Review show that the company – which traces its roots back to the steel empires run by BHP and the Smorgon family – slumped to an $18.6 million loss in the 12 months ended June 30, compared with a $239.6 million profit last year.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
