UPDATE 2-Photo-Me to cut more debt as cost savings pay off

* FY underlying pretax profit 1.6 mln pounds vs 6.3 mln loss

* Former CEO Crasnianski to act as interim CEO

* Net debt almost halved to 23.5 mln pounds vs 45.6 mln

* Says will get 'very close' to net cash next year

* Shares up 3 pct (Adds CEO interview, shares, details)

By Ben Deighton

LONDON, July 2 (Reuters) - British photo booth maker Photo-Me International (PHTM.L) will continue to pay down debt over the coming year after cost cuts and a 9 percent rise in sales helped it swing to an underlying pretax profit.

It predicted it would get very close to being in a net cash position next year when rising sales of its digital photo products are expected to offset declines in photo booths.

The company has made cutting debt its top priority and in the last year it almost halved its net debt to 23.5 million pounds ($38.64 million) from 45.6 million pounds.