POOR performances on the pitch were a major reason behind Sunderland Football Club recording its first loss since becoming a public company, said the club.

The Premier League outfit recorded a £2.8m loss last season.

The figure, for the financial year ending on July 31, is a significant drop from the £3m profit recorded the previous year.

Club vice-chairman John Fickling said much of the loss, modest by Premiership standards, is down to player write-downs.

He said: "There's been quite a change within the transfer market.

"The problems the Football League have had with ITV Digital means that market has disappeared.

"What we've done, unlike other clubs, is written down the value of any players we've had that are surplus to our requirements.

"That's one of the main reasons why we've gone from an operating profit into what in football terms is a very small loss."

Turnover also fell from £46m to £43.8m with operating losses, excluding profits from player trading, of £7.2m.

This was largely attributed to the team's poor performance in the Premiership and the subsequent decline in gates and reduction in TV money.

Although disappointed with the results, Mr Fickling said they were far from disastrous.

The best way of getting the club back into profit was to improve performances on the field, he said.

Last season, Sunderland finished 17th, only just escaping relegation.

Mr Fickling pointed to recent signings, including Tore Andre Flo, Marcus Stewart and Matthew Piper, and the appointment of management team Howard Wilkinson and Steve Cotterill, following the sacking of manager Peter Reid.

Mr Fickling said: "One of the things we've suffered from during the year is a reduction in the television money, and that's been as a direct result of the poor season we had.

"This is why we've invested heavily in new players and we've had a change of management team.

"Hopefully that will ensure we can not only retain our Premier League status, but start to move up the table, which in turn means we will get more money from TV.