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IODM (ASX:IOD) says it will not be impacted by new COVID-19 restrictions
  • Australian accounts receivable solution IODM (IOD) has said it will not be impacted by the new COVID-19 restriction in Victoria
  • Since the end of March, the company told staff to work from home and conduct meetings with staff and clients electronically
  • This is currently still the case after the Victorian Government announced the state will be going into stage 4
  • Despite COVID-19, IODM said it had its most successful period in the last six months
  • In the last half of 2020 financial year, the company's cash receipts increased 84 per cent to approximately $488,000, which is up from around $265,000 in the first half
  • On market close, IODM is in the grey and trading for 16.5 cents per share

Australian accounts receivable solution IODM (IOD) has said it will not be impacted by the new COVID-19 restriction in Victoria.

Since the end of March, IODM has told its staff to work from home and conduct meetings with staff and clients electronically. This is still the case after the Victorian Government announced the state will be going into stage 4.

Over the past few months, the company has employed further staff in Victoria, who have been inducted in this new work environment.

IODM's operations in New South Wales, Singapore and the United Kingdom will continue to work under the requirements of their own region.

In June, the company said it had its most successful period in the last six months as it continues to look at both securing transparency on cashflow management and give its staff the ability to work remotely.

"IODM has seen a large increase in both cash receipts and an increased pipeline," the company said.

In the last half of 2020 financial year, the company's cash receipts increased 84 per cent to approximately $488,000, which is up from around $265,000 in the first half.

On market close, IODM is in the grey and trading for 16.5 cents per share.


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