Steve Wharton said the loss was lower than expected

Scunthorpe United made a loss of £480,000 for the last financial year according to figures just released.

The numbers show player and staff costs increased from £3.8m in 2009 to a new high of nearly £5.1m in 2010.

However, the sale of Gary Hooper to Celtic for a reported £1.5m is not recorded in the published accounts.

Chairman Steve Wharton said: "The loss of £480k was slightly less than we budgeted and follows a loss of over £1m in the previous year."

The club saw an increase in turnover following promotion into the Championship from £3.9m in 2009 to nearly £6.6m.

Scunthorpe also paid out £300,000 to buy 3.4 acres of land adjacent to their ground.

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