Lighting specialist Hella KGaA Hueck has posted a greatly improved operating result for the fiscal year 2007-2008 ended 31 May and said it was now practically debt-free.

Sales grew 7% to EUR3.9bn and EBIT increased to EUR144m from EUR46m the previous year. Including one-off effects, EBIT rose to EUR232m.

"Through this considerable increase in results, it was possible despite constantly high investments in new technology projects and development projects to reduce medium-term net debt below 25 years," the supplier said.

Chairman and president Jürgen Behrend said: "With the end of fiscal year 2007-08, Hella is practically debt-free."