Oslo-listed Hoegh Autoliners looks set to reward investors after a profitable first quarter.

The company, which carried out an initial public offering in November, logged a net profit of $35.6m in the three months to 31 March, against a loss of $7.2m in the same period of 2021.

The “strong” result came despite market volatility and supply chain disruptions, Hoegh Autoliners said.