A prominent Celtic supporters group has expressed anger at the club's "alarming" decline and "continued mismanagement".

The rancour of last season has returned over the past month after a Champions League play-off collapse against LASK and three defeats in eight days - including two derby losses to Rangers - leading into the current international break.

On Tuesday the club announced a loss after tax of £4.8m for the year ending June 30, 12 months on from making a profit of £33.9m, and a 22.7% revenue drop £111m.

"Anger at recent shambolic results on the park in big games was compounded yesterday by Celtic plc latest financial results," read a statement from Celtic Fans Collective, a coalition of supporter groups formed a year ago.

"The statements from the 'interim' chairman (Brian Wilson) and CEO (Michael Nicholson) typically lacked humility and did little to improve the mood. Supporters are not fooled.

"The stark reality is that Celtic FC is underachieving across the club and the trajectory is alarming.

"We have highlighted the signs of this decline since our formation. We will continue to hold the club to account and fight for the standards that the Celtic support deserves.

"Celtic Fans Collective representatives met with Celtic FC yesterday to discuss the club's fan engagement strategy. We also the took opportunity to express the deep frustration at the continued mismanagement of the club. A full update will be shared with members shortly."