Y3S profits increase 105%
South Wales specialist finance packager Y3S has more than doubled its profits in the financial year to September 2014.
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The company says that 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 blend 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.
Group finance director, Benson Yeadon, said:
“The past 12 months has seen another upward trend for Y3S despite the ongoing investment needed to implement the new regulatory requirements.”
“Our secured loan and bridging finance divisions have benefited from organic growth in the sector coupled with an ambitious internal growth strategy”.
Operations director, Barney Drake, said:
“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 todevelop new and exciting ways for mortgage brokers to expand their horizons through our specialist finance products."
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