Y3S Group has more than doubled its profits in the financial year to September 2014.

The South Wales-based specialist finance packager says its latest annual results will show a net profit of £864,000, up from £420,000 last year and £196,000 the previous year.

The firm attributes its growth to a combination of strong demand for second charge loans and short-term finance from mortgage brokers and IFAs and continuing investment in quality people as well as targeted, consistent marketing campaigns.

“The past 12 months has seen another upward trend for Y3S despite the ongoing investment needed to implement the new regulatory requirements,” said group finance director, Benson Yeadon.

“Our secured loan and bridging finance divisions have benefited from organic growth in the sector coupled with an ambitious internal growth strategy.”

Barney Drake, operations director, added: “Over the coming years, the intermediary sector of the market presents a number of high-growth opportunities for our organisation, and we are well-positioned to take advantage of these.

“While some are predicting doom and gloom as the regulatory changes stay in the headlines, we continue to develop new and exciting ways for mortgage brokers to expand their horizons through our specialist finance products.”