Housebuilder Crest Nicholson has slashed its outlook for sales and profits as it warned over the impact of the Iran war on costs and buyer confidence.
The group saw its shares plunge by 45% at one stage after it said it would deliver fewer homes this year and warned that this, plus rising build and energy costs because of the Middle East conflict, would see underlying earnings come in at a lower-than-expected £5 million to £15 million.
