Company suspends dividend payouts after shares dip by as much as 8% with profits down by more than a third

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Profits at the UK housebuilder Vistry Group have slumped by more than a third in what it described as a “disappointing year” but it is pinning hopes of a turnaround on the government’s promise this week to inject £2bn into affordable homes.

After three profit warnings last year, Vistry suspended dividend payouts to shareholders on Wednesday and its shares were the biggest faller on the FTSE 250 index, dropping by as much as 8% before easing back to 5.5% down.