A recruitment business swung back into the black a year after it was forced to cancel a contract with a FTSE100 “household name”, causing a dramatic fall in revenues.

Ashford-based RHL, a subsidiary of nationwide recruiter HRGO, also based in the town, managed pre-tax profit of £214,000 last year, having made losses £100,000 in 2015.

This was despite a continued decline in turnover, down 25% to £9.6 million. The previous year it had declined by £10 million.

This was after it had to terminate a deal with a major client when its bank cancelled insurance cover for the commercial agreement, which worked on a “pay-when-paid” basis.