Bad news comes in threes, apparently. Vistry (VTY) issued its third profit warning in as many months, as problems linked to both transactions and completions meant that full-year adjusted profits will come in at around £250mn, against earlier guidance of £300mn and before that £350mn.
The latest disappointment sent the shares down 17 per cent, to 542p. This takes the year-to-date fall to 40 per cent.