Thanks for your help all,
We tested the server on another internet connection and it worked perfectly and also put a test server in its place with a fresh install of 7.6 and got identical symptoms.
In light of this information the ISP following further investigations revealed work was ongoing to upgrade the equipment in the exchange and accepted there is a fault which they are in the process resolving - We will know the outcome in 5-7 working days.
Your help and promt responses have been a life saver and put the open source community in a very good light with the client. He is now able to direct his vitriol at the ISP! I have showed him this forum thread as evidence that the issue had been highlighted early in our investigations and been queried with the ISP, he commented on the product knowledge demonstrated exceed that of some of the paid solutions he has running in his business!
So once again THANK YOU ALL for your help and support!