The game at Deepdale appeared to be heading for a goalless draw when, in stoppage time, Ross Wallace's left-wing cross found Preston substitute Jon Parkin who netted from four yards out to earn the hosts a somewhat fortuitous three points.
"The disappointing thing was not getting at least a point," the Blues boss said after the game.
"Football has it's ups-and-downs - when you win you're on a high, when you lose you feel low.
"In terms of the second half we didn't look in any trouble but a wee bit of slack play cost us.
"We left ourselves a little exposed on the flanks and it gave them an opening and, one against one in the box, Liam Ridgewell has admitted that he mistimed his jump and the big fella' had an easy tap in.
"I don't think you blame any one person when you lose a game. You win as a team and you lose as a team.
"Instead of getting a share of it we are obviously disappointed to lose."