Firm issues another profit warning after review into ‘understated’ build costs in south division

Shares in the FTSE 100 housebuilder Vistry plunged on Friday 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, with shares down 18%, wiping about £500m off the value of the company.