Australian manufacturer IDT updates on COVID-19 impact

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The ASX-listed company IDT has updated investors on its response to COVID-19 and the impact on its business operations.

It said, "At the request of the Australian Government, IDT has been asked to assist with certain COVID‐19 response activities. To this end, IDT’s GMP pharmaceutical manufacturing facilities and laboratory remain fully operational and business operations continue without disruption."

The company said it has implemented a range of measures since the emergence of COVID‐19. It said the measures are designed to protect the health and safety of our employees whilst ensuring continuity of business operations.  

"As the COVID‐19 situation evolves IDT will continue to respond in accordance with current best practice," it said.

It continued, "Strict controls have been put in place to protect employees and support them to perform their roles in a safe and secure way. For example, the health of all employees is monitored on a daily basis, increased cleaning and hygiene practices have been put in place, social distancing protocols are strictly enforced, all travel has been cancelled, internal meetings have been minimised and are conducted virtually wherever possible, external meetings are conducted virtually and onsite visitors are restricted to only business essential site services. Working from home arrangements have been implemented where possible."

It said it will continue to closely manage costs while revenues are "presently tracking in-line with budget as we push towards profitability."

It added, Continuity planning is in place across the business to maximise our ability to continue to function and to respond to challenges presented by COVID‐19."