Vistry shares plummet as housebuilder pauses buyback and warns on inflation

Vistry shares fell 11.5% to 288p after the housebuilder warned of a significant profit hit due to rising building costs linked to the Iran war. The company paused its share buyback and halted some construction to improve cash flow, expecting significantly lower profits for the first half of the year. The macroeconomic uncertainty has made financial predictions more challenging. Savills also reported that the conflict is dampening housing demand, although it remains on track to meet profit forecasts, aided by growth in the US market.