Vistry Shares Plunge Most Since Brexit After Profit Warning
- Shares in the UK homebuilder dropped as much as 36% on Tuesday
- Firm found costs had been understated in one of its divisions
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Vistry Group Plc fell by the most in eight years after the homebuilder said adjusted profit would be £80 million ($105 million) lower than previously forecast for the full year.
The warning came after the company found that costs had been understated in one of its divisions, according to a statement Tuesday. The homebuilder said it has initiated an independent review of the business and made changes to the management team.