City File: Attwoods is the Millwall of waste management sector

Attwoods is the Millwall of the waste management sector. The City does not like it, and Ken Foreman, the group's forthright chairman and chief executive, does not appear to care.

The shares have hardly been a sparkling performer over the past year, and problems in Germany and at home have not helped sentiment. Still, on an FRS3 basis, Attwoods' pre-tax profits should show a modest improvement to pounds 27m when they are announced on Wednesday.

But is Attwoods a buy? In the long term it must do something to reform its board and that will win it some friends. Until then, the shares are going nowhere.