Just three days after delivering a stunning display to topple League One title favourites Leeds United, Posh went down 1-0 at home to League Two side Dagenham & Redbridge despite fielding a full-strength side with the exception of unavailable centre-back Gaby Zakuani.

Posh boss Ferguson condemned his side's display as unacceptable, particularly considering the financial implications of the loss.

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Posh lose their gloss in Paints Trophy tie - Posh 0 Dagenham 1.
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Ferguson said: "We had two aims this season, to win promotion and to win the Johnstone's Paint Trophy.

"I've won this competition as a player and it's a fantastic feeling. We would have taken 35,000 fans to Wembley for the final and easily made a million quid.

"The world's finances are cracking up and everyone needs to make money so to miss out because of a performance like that is just unacceptable.

"We have no excuses. I fielded as strong a side as possible, but we just didn't perform and I'm very disappointed as I thought those days were behind us.

"It was like last season when we followed a win at Colchester in the FA Cup with a home defeat to Macclesfield. You don't expect it, but it happens.

"It was like chalk and cheese after the Leeds game. We knew this game would be different because we were going to have to make our own atmosphere and our own running.

"But we prepared for that and yet we flopped badly.

"We had a lot of possession, but our tempo was too slow, our final ball was awful and we didn't force their goalkeeper into making a save until the final minute.

"Too many of our players just weren't with it mentally. I felt the centre-halves did well, but there were some poor displays elsewhere in the team.

"All credit to Dagenham and their manager John Still who has done a fantastic job. They do the ugly things really well, but we really should have won this game.

"I feel disappointed for the chairman as much as anyone because he was keen on winning this competition."

Chairman Darragh McAnthony was not at the game, but he had listed winning the Johnstone's Paint Trophy as one of his major aims for the season.

Ferguson confirmed that Charlie Lee would retain his place at centre-back for Saturday's League One trip to Walsall, hopefully alongside Chris Westwood who missed last night's game with a calf strain.

First-choice defenders Craig Morgan and Zakuani are away on international duty. Joe Lewis will play at Walsall despite joining the England Under 21 camp today.

Football League rules allow matches to be called off if three players are away on international duty, but as Zakuani is a loan player he cannot be included in the three.