African and Overseas Enterprises Limited provided earnings guidance for the six months ended 31 December 2019. AOE's earnings per share will decrease by 57.6%, from earnings of 166.8 cents per share reported by AOE for the six months ended 31 December 2018 to earnings of 70.7 cents per share for the six months ended 31 December 2019. IFRS 16 became effective for year-ends beginning on or after 1 January 2019. Comparative results for the 2019 financial year have not been restated. The financial results before the impact of IFRS 16, based on the old lease accounting standard (IAS 17 Leases), are as follows: AOE's EPS will decrease by 41.1%, from earnings of 166.8 cents per share reported by AOE for the six months ended 31 December 2018 to earnings of 98.2 cents per share for the six months ended 31 December 2019.