I had the same issue but mine was a single absence of 116 days, working for a UK company outside UK (in India), got paid in UK, evidences submitted were UK bank statements and UK payslips, company letter, still got refused. Didn't understand why? Appealed against the decision, luckily judge allowed my appeal. Still waiting for the issue of visa. I applied for ILR on September 7, 2011. Check my posts.
In your case, you need get a very strong letter from your employer explaining your role, why you were needed to work outside UK for such a long period, company policy on pay while working overseas etc. Also, show your ties with UK during the whole of your absence period, gather as much evidence as possible to show that you were connected to UK during the absence period. You can provide any bills paid in UK while you were away like council tax bills, any insurance premiums (eg. car) etc.
Moreover you have also got 240 days absence where as the standard allowed absence is 180 days during the 5-year period without a single absence of more than 90 days.
So, prepare your application very well before you apply. All the best.