Housebuilder Vistry’s profits more than halve amid economic uncertainty

Fall to 40.9m in first six months of year pushes share price down, with order book lower than year ago

Half-year profits at Vistry Group, one of Britain's biggest housebuilders, have more than halved as buyer demand comes under pressure from concerns over the economy, affordability struggles and slower-than-hoped interest rate cuts.

The company, which owns Bovis Homes, Countryside and Linden Homes, said its pre-tax profit in the first six months of the year fell by 55% to 40.9m.