Vistry shares have been punished by cost miscalculations that will wipe at least £165m off profit before tax over three years.
The impact is severe, but it’s not an existential threat. Although earnings will be significantly lower this year and damaged next year, the investment case remains very much intact.
There are reasons to be wary of Vistry. However, there are also many compelling arguments as to why the stock now looks very good value.
The risks of discovering further cost miscalculations shouldn’t be ignored. The auditors' forensic investigation into the cause of the pr...
