Sinochem Corp's profit jumped 62 percent to a record high while sales climbed 23 percent in the first four months of the 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 of 1990s, we have started the business integration for further growth," said Liu Deshu, Sinochem's president and CEO .

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

Now the company has become one of the four major State-owned oil companies and the largest fertilizer importer and phosphorus compound fertilizer manufacturer in China. It has also become one of the nation's largest chemicals companies.

"We have been expanding our presence in both upstream and downstream businesses in these three sectors. They have become the most important contributor to growth," Liu said.

"With the development of core businesses, Sinochem has also made remarkable advances in other fields such as finance and logistics."

The company went through its hardest period in 1998, Liu said. Since then, Sinochem has been exploring ways to become a leading sales and marketing service provider.