Shares in one of Britain’s biggest housebuilder Vistry crashed more than a third today after a disastrous profit warning over an extraordinary litany of cost overruns at several of its sites.
The FTSE-100 developer, which owns the Countryside, Bovis and Linden brands, said it had “recently become aware” that the costs of completing nine major schemes in the south of England have been understated by around 10%.
