LONDON, July 8 (Reuters) - Kingfisher, Europe's No.1 home improvement retailer, said a French tax case had beensettled in its favour after a decade long dispute and wouldresult in an exceptional credit of 145 million pounds ($216million) to 2013-14 earnings.
The firm said on Monday France's ultimate court, the Conseild'Etat, had considered the case, which dates back to 2003, andfound in its favour.
Kingfisher said the decision did not impact its cashposition as a full refund of the tax had been made in 2009following a previous successful hearing.
"However, this decision finally removes any uncertainty overthe position and will therefore result in an exceptional creditof around 145 million pounds being recognised in this year'searnings," it said.
The decision will likely reignite speculation about possiblecapital returns to Kingfisher investors as Chief Executive IanCheshire has previously stated that they would not be considereduntil the French tax case was settled.
Shares in Kingfisher were up 2.3 percent at 375.5 pence at1316 GMT.