UK housebuilder Vistry warns of ‘significantly’ lower profits amid Iran war uncertainty

Bovis Homes owner’s shares plunged 10.5% after it was forced to cut prices as buyers have become cautious

One of the UK’s biggest housebuilders has warned its profits will be “significantly” lower, as it was forced to cut prices after heightened uncertainty sparked by the US-Israeli war on Iran.

Vistry’s shares plunged 10.5% in early trading on Wednesday, hitting their lowest level in nearly 15 years, as it warned shareholders its first-half profits will be hit by the fallout from the Middle East conflict.