Shares in housebuilder Vistry plunge as cost overruns hit profits

Vistry expects to complete 17,500 homes this year, 500 fewer than it had previously forecast. Photograph: Andrew Matthews/PA

Shares in the FTSE 100 housebuilder Vistry have plunged after it issued a second profit warning in as many months and said cost overruns on building projects were worse than previously thought.

Vistry was the top faller on the blue chip index of stocks on Friday morning. The builder’s shares closed down 15.5%.