A manufacturer of mannequins for dressmakers bounced back into the black after completing payments to two outgoing members of staff.

Adjustoform, which makes the models used by tailors to shape their garments, made pre-tax profits of £276,000 in the 12 months to the end of September after recording losses of £410,000 a year earlier.

It comes after the Ashford firm finished paying exit payments to its retiring managing director Ken Fullalove and sales director Christine Darwent, who officially resigned from the business in September 2014.

Underlying trading profit declined 3% as adverse currency movements affected the business.

Its gross profit margin also decreased from 65% to 63% due to pricing pressure.

However, turnover increased 1% to £4.2 million, according to its latest accounts filed at Companies House.

The firm sells in sterling, which had gained strength against the euro and ruble, affecting exports.

Managing director David Hunt said: “We are feeling confident. There are ups and downs from one year to the next.

“The political situation in Russia has been a problem and Canada is in recession.

“Other countries have thier problems which affect us because they are customers. We are still trading but not at the volumes we would like.