Shares in housebuilder Vistry plunge as cost overruns hit profits

Firm issues second profit warning in a month after review into understated' build costs in south division

Shares in the FTSE 100 housebuilder Vistry have plunged 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 on Friday morning. The builder's shares were down 18%, wiping about 500m off the value of the company.