Tottenham face up to loss of £4.3m last season mainly because the club did not compete in Champions League However, the setback did not prevent manager Andre Villas-Boas travelling to Glasgow on Tuesday night to watch Celtic target Gary Hooper playing against Dundee United. With Emmanuel Adebayor on duty at the Africa Cup of Nations, Spurs have just one recognised striker in Jermain Defoe, but they face competition for Hooper, 24, from Norwich, who had a second offer rejected on Tuesday. A summary of results for the 2011-2012 financial year shows revenue at White Hart Lane fell to £144 million from the record £163 million recorded in the club's first and so far only Champions League season in 2010-11. As well as losing broadcast and prize money income from Europe's premier competition, merchandising revenue also fell by four per cent last year. Media revenues, primarily from domestic broadcasting, rose by 10 per cent, as did sponsorship and corporate hospitality income. The club said that operating costs had fallen by one per cent, and while it gave no figures for annual wages it is understood they have fallen marginally from the £91 million paid in 2010-11. The club pointed to their operating profit of £23 million - a measure of cash generated before player acquisitions, income and tax - as evidence that they continue to be a well-run business, with profits reinvested in the playing squad and stadium investment. The club made an operating loss after football trading of £1.6 million and a loss for the year, after interest and tax, of £4.3 million. Chairman Daniel Levy said that the club would continue to work on plans for a new stadium, referring to "limitations placed on match-day income" at White Hart Lane. He said the club were compliant with Uefa's financial fair play regulations and supported their implementation in the Premier League. "We are ever ambitious for the club, driving all areas of the business and our focus continues to be the delivery of an increased capacity stadium," Levy said. There is much work to be done refining the detailed design and resolving the final development issues. We intend to deliver this to the same high standards of the new training centre and to reward our incredibly loyal supporters with a world class stadium and one that will have made a crucial contribution to the regeneration of a priority borough in London.