The Globe and Mail reports in its Saturday edition that Scott Lysakowski at Phillips, Hager & North has been buying TFI International recently. The Globe's Brenda Bouw quotes Mr. Lysakowski saying: "TFI International, the Saint-Laurent, Que., mid-sized North American trucking company, is a stock we started buying earlier this year. The move follows our increased exposure to Canadian railway stocks last year, as the sector emerged from a multiyear freight recession. As with railway stocks, trucking companies benefit from these recoveries as weaker players exit the industry and steady demand from a robust economy leads to higher volumes. The combination of higher rates and volumes leads to positive operating leverage as revenue grows and margins improve, resulting in a meaningful increase in free cash flow. In the most recent quarter, TFII reported a 50-per-cent increase in operating income on a 7-per-cent increase in revenue. Increased profitability and free cash flow generation also open the door to future growth through M&A, as well as to enhanced shareholder returns from share buybacks and debt reduction." Mr. Lysakowsk expects Canada's growth to come from energy, materials and financials.