Vistry Shares Tumble After Another Profit Warning, Buyback Pause

Shares of Vistry Group Plc plunged the most in more than two months after the UK housebuilder halted its buybacks and warned that the steps it’s taking to generate cash and slash debt will hit profits more than expected.

Profit in the first half of the year is now expected to be “significantly lower than the prior year” as it resorts to measures including increased use of incentives and discounted home sales, the Kent, England-based company said in a statement Wednesday.