Carlisle United co-owner and chairman Andrew Jenkins insists the club are emerging stronger for a period of "difficult but necessary" financial change.

Jenkins commented after the club's latest accounts, for the 2017/18 season, emerged.

They showed the Blues made a £121,000 loss, with turnover and income having fallen in a campaign when the Blues finished 10th in League Two.

The figures also showed United's debt to Edinburgh Woollen Mill increased to £1.3m by last June - as debt to Jenkins decreased.

The long-serving director says that, since the 2017/18 campaign, Carlisle have changed their approach, moving away from a stance of "short-term" increased spending on the team and taking a longer-term view.

Jenkins said: "2018 was a year of transition and transformation for the club, and the financial results reflect this difficult but necessary transformation.

"Whilst this has certainly been a challenging time, the club has now emerged stronger, more resilient and better prepared for the future."

Jenkins says United "maintained" their spending on the team in 2017/18 despite a "frustrating" season ultimately affecting turnover and income figures.

"But, since June, the club has taken a fresh footballing approach, bringing in a new management and coaching team, as well as appointing a new director of football," he added in a statement.

"These appointments, along with the loyalty and outstanding support of our fans, have enabled the club to move away from trying to solve problems by simply increasing the football budget - and instead, think strategically, make targeted signings and focus on developing a winning style of play that is distinctly Carlisle United.

"This has borne fruit and we have recently experienced a period of strong results on the pitch."

Jenkins, meanwhile, expressed his thanks to EWM for their ongoing financial support.

Philip Day's firm loaned the Blues an extra £860,000 in the 2017/18 campaign.

Jenkins said: "In the period ending June 2018, the club was fortunate enough to have continued to benefit from an external funding facility, which has given the club the breathing space and flexibility to undergo this transition, and has enabled the club to focus on long-term success over chasing short-term results."

Jenkins adds that he is grateful to United's fans, adding: "While this year will no doubt continue to be challenging, we are now on the right course and moving in the right direction for sustainable future success."