"Economic turbulence" caused losses to widen at Blackburn Rovers during their latest financial year.
The Championship club have posted pre-tax losses of £11.2m for the 12 months to June 30, 2022, compared to losses of £6.5m in the prior year.
That was despite their turnover increasing from £14.4m to £16.6m over the same time.
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Rovers have said they want to focus on increasing their commercial revenue streams to aid its balance sheet.
A statement signed off by the board said: "Off the pitch the club continued to emerge from the global and national impact of Covid-19.
"As the UK Government business support schemes began to be gradually withdrawn, we were then suddenly stunned by Russia invading Ukraine in February 2022 that saw energy and food prices sharply increase, with inflation also rapidly rising.
"More economic turbulence was injected to all aspects of our lives just as we were entering a post-pandemic era.
"The direct impact of all the above has resulted in the club incurring more costs right across the business, just as revenue streams were beginning to return to previous levels."
The club added: "Looking to the future, the emphasis and focus for the club continues to be on trying to increase commercial revenue streams.
"Key to any growth plan will be the introduction of a Business Club, improving match day experience and attendance levels where and whenever possible, continued fan engagement through cutting edge community integration work whilst attracting new next generation supporters via increased links with schools and youth organisations across the region."
The accounts come after BusinessLive reported in December 2022 that the club's owner had made its first pre-tax profit in 10 years after the Championship side sold its training ground.
Venkys London Ltd has reported a pre-tax profit of £2.6m for the 12 months to March 31, 2022, up from a loss of £21.4m in the prior year.
Venky’s London Ltd was set up in October 2010 ahead of their purchase of the club and owns almost 100% of Rovers.
In June 2021, Blackburn Rovers sold their senior training facility for £17.3m to Venkateshwara London Ltd, a business set up by Venky’s London Ltd.
It is the first time that Venky’s London Ltd has been in the black since reporting a £826,798 pre-tax profit for the period from October 13, 2010, to March 31, 2012.
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