UPDATE 1-Glisten says FY results to miss guidance

* Says accounting failures at Halo foods to hit FY profit

* Sees FY oper profit of 5.8 mln stg versus 8 mln in 2008

* Expects annual sales of at least 75 mln stg (Adds details)

June 24 (Reuters) - Health bar maker Glisten Plc (GLI.L: Quote, Profile, Research) said on Wednesday that its full-year results would be below prior expectations, citing accounting failures in Halo Foods, the largest part of its fruit and cereal snacks division.

However, the company, which sells sweets and healthy snacks across Europe, said it expected higher sales and profits in the year ahead as all parts of the group remain profitable.

Although Halo remains both cash generative and profitable, the rate of profit in the second half was found to be wrongly stated and failed to properly take into account higher materials and operating costs, Glisten said.

The company said it had suspended the unit's finance director and managing director pending an investigation.

As a result of the accounting failures, the company now expects operating profits for the full year ending June 30 to be around 5.8 million pounds ($9.6 million), compared with 8 million pounds a year earlier.

It expects annual sales of at least 75 million pounds, up 2 percent from last year.