Got to agree with the advice mentioned above - if it is seriously flat, it will probably be a lambda sensor problem. As yours is an earlier Puma, you've only got the one to worry about! You could try removing it and cleaning it with a rag and some carb or brake cleaner and then refitting it to see if it's any better. Failing that, your probably going to need a new one (i've also heard about the lambda sensors having a life span). If that fails to cure the problem, it might be worth taking it to a reputable car tuner who can check fuelling, timing etc and maybe sort you out a custom map for your mods!
You may lose some mid range torgue by taking the cat out, but on something like a Puma, the majority of drivers would be hard pressed to tell the difference! Most would just notice the difference in exhaust note!
On a separate note, I had a Citroen Saxo VTR when they first came out (before all the chavs and boy racers started buying them). I fitted a de-cat to it. No massive improvement in performance, just noticed a slight improvement in MPG and it would hold onto a higher gear slightly longer on the banks - not bad for a £30 - £40 mod!
Hope you get it sorted cheaply and quickly!