Sinochem Corp's profit jumped 62 percent to a record high while sales climbed 23 percent in the first four months of this year.

The Beijing-based company's 2006 profit rose 27 percent to 4 billion yuan from a year earlier. It aims to increase profit to over $1 billion within three years.

"The quick development comes from our clear business strategy. After experiencing the hard times of the late 1990s, we have started business integration for further growth," says Liu Deshu, Sinochem's president and CEO.

Established in 1950, Sinochem, was mainly engaged in international trade in petroleum, fertilizers and chemicals. The company has transformed from traditional foreign trade business to focus on producing petroleum, fertilizers and chemicals as its core businesses.