PT Kencana Energy Tbk (KEEN) is targeting revenue and profit for the year to reach US$47.4 million and US$11.86 million this year, respectively.

In the 2020 annual report published on Tuesday (13/7), the revenue target is 107.5% higher than the previous year's US$22.841 million. Meanwhile, the realization of last year's revenue was US$25.38 million.

Meanwhile, this year's profit target is 154% higher than the previous year's US$4.67 million. Meanwhile, the realization of profit for the year was around US$8.64 million last year.

The company also announced a capitalization of US$4.29 million, an increase of 17.92% from the previous year's budget of US$3.64 million.

The COVID-19 outbreak has caused a global and domestic economic slowdown that has affected the group's operations and the group's customers and suppliers. Although this disruption is expected to be temporary, there is high uncertainty regarding the extent o