Vistry’s pre-tax profit has fallen by nearly two-thirds as the full impact of cost forecasting errors in its southern division were outlined in its annual accounts today.

The housebuilder in its results to the year to 31 December 2024, reported pre-tax profit of £104.9m, a drop of 64% on the £293m reported the previous year. Its operating profit excluding one-off costs fell from £407.3m to £263.5m.