Tony Bloom belief in Brighton promotion after 'slight fall' in operating losses

The club's accounts for the year ending June 30, 2015 reveal turnover fell by £300,000 to £23.7million but non-footballing operational costs had been reduced to £11.8million as Brighton continue to meet the Football League's Financial Fair Play requirements.

"The continued cuts in administrative and operational costs, increasing the overall efficiency of the football club, helped Albion increase its investment in footballing costs by just under £3m," the club said in a statement on their official website.

Bloom said: "I wrote last year that ambitions are rarely realised overnight, and that remains the case.

"We have had a very good start to the current season, but we all know just how competitive and tough the Championship is year after year, so it's important we do not become complacent. There is still a lot to do to realise our ambition of playing at the highest level."

Bloom said he was "not entirely happy" that Football League clubs had voted in favour of increasing the permitted level of losses under the FFP rules from £5million to £13million in 2014.

"As such, we are keen to ensure all investments and player transactions are made with the club's long-term future as well as short-term objectives in mind," he added.

"With permitted losses of £13m per year, any Championship club wishing to compete for promotion will inevitably make significant losses, so it remains a delicate balancing act for the board, recruitment team and manager as we strive to achieve our ultimate aim."